Gustavo Arnal, CFO at Bed Bath & Beyond, dead at 52

NEW YORK — Gustavo Arnal, the chief financial officer for home goods retailer Bed Bath & Beyond, died Friday, the company confirmed on Sunday. He was 52.

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According to the New York Police Department, Arnal, who joined Bed Bath & Beyond in 2020, died in an apparent suicide, The New York Times reported. Arnal was found near his residence, a 57-floor skyscraper known as the Jenga building because of its architectural design that resembles the block game, according to the newspaper.

In a statement, the NYPD said that Arnal “appeared to suffer from injuries indicative from a fall from an elevated position.”

A law enforcement source told CNN that Arnal fell from the building’s 18th floor.

He was pronounced dead at the scene, according to The Associated Press. The New York City Medical Examiner’s Office will determine the cause of death, and police said an investigation was ongoing.

Arnal’s death came two days after Bed Bath & Beyond announced that it planned to close 150 stores and lay off 20% of its staff.

Arnal spoke to Bed Bath & Beyond investors on Wednesday, delivering tough news about the impact of the Union, New Jersey, company’s latest turnaround efforts, according to the Times.

Arnal was previously chief financial officer at Avon and held senior positions at Walgreens Boots Alliance, WNBC-TV reported. He was also a senior executive at Procter & Gamble, where he spent more than 20 years of his career, according to the Times.

In a statement, Bed Bath & Beyond’s Board of Directors called Arnal’s death a “shocking loss.”

“Gustavo will be remembered by all he worked with for his leadership, talent and stewardship of our Company,” Harriet Edelman, independent chair of the company’s board, said in the statement. “I am proud to have been his colleague, and he will be truly missed by all of us at Bed Bath & Beyond and everyone who had the pleasure of knowing him.”

Arnal sold roughly 55,000 shares in Bed Bath & Beyond in mid-August as part of a trading plan he had signed in April, the Times reported. In August, Bed Bath & Beyond disclosed in a regulatory filing that Mr. Arnal and the retailer were being sued by certain shareholders.

Note: If you or someone you know is thinking of harming themselves, the National Suicide Prevention Lifeline provides free support via the Lifeline by dialing 988. For more about risk factors and warning signs, visit the organization’s official website.

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