Bed Bath & Beyond’s CFO Dies in New York
The person in charge reportedly fell from a skyscraper in Manhattan having caused his own death. The furniture and decoration chain has been going through difficulties and a lot of volatility in the financial markets.
Bed Bath & Beyond confirmed this Sunday that Gustavo Arnal, the decoration company’s chief financial officer, was the man who fell Friday from a skyscraper in Manhattan, causing his own death.
“We extend our deepest condolences to Gustavo’s family, who will be remembered by all for his leadership and talent in running our company,” Harriet Edelman, chairman of Bed Bath & Beyond’s board of directors, said in a statement. “Our focus is on supporting his family and his team and our thoughts are with them at this sad and difficult time.”
Last week, Gustavo Arnal reportedly presented details of the company’s turnaround plan, which includes substantial workforce cuts and the closure of about 150 stores. The plan also calls for new financing and the sale of up to 12 million shares.
The North American furniture and decoration chain—once a giant in the industry—is going through a period of financial difficulties and has experienced moments of great volatility on the New York Stock Exchange.
However, due to a concerted move on social networks, similar to Game Stop in early 2020, it even saw its shares soar last month.
The 52-year-old executive had been with the company since May 2020, having previously worked at Avon, Walgreens, and Procter & Gamble.