Bloomberg — Bed Bath & Beyond Inc. Chief Financial Officer Gustavo Arnal fell to his death from a skyscraper in Manhattan’s Tribeca neighborhood on Friday.
Union, New Jersey’s company said that Arnal was the one who had died. Earlier on Sunday, the New York Police Department named the person as 52-year-old Arnal, resident of 56 Leonard Street — also known as the Jenga Building.
“I wish to extend our sincerest condolences to Gustavo’s family. Gustavo will be remembered by all he worked with for his leadership, talent and stewardship of our Company,” Harriet Edelman, Independent Chair of the Bed Bath & Beyond’s Board of Directors, said in the statement. “Our focus is on supporting his family and his team and our thoughts are with them during this sad and difficult time.”
Arnal was among the Bed Bath & Beyond executives who provided details on Wednesday of the company’s turnaround plan, which including cutting 20% of jobs across its corporate and supply-chain operations and closing about 150 lower-producing stores. It also included new financing options and the possibility of selling as many as 12,000,000 shares.
Arnal joined the retailer as the company navigated the coronavirus epidemic in May 2020. He was previously with Avon Products Inc., Walgreens Boots Alliance Inc. and Procter & Gamble Co. The New York Post first reported Arnal’s death.
In a regulatory filing last month, Bed Bath & Beyond said Arnal sold more than 55,000 shares in multiple transactions on Aug. 16-17 as part of a Rule 10b5-1 trading plan entered into in April 2022. These trading plans can be adopted by executives in order to regularly sell stock. According to Bloomberg calculations Arnal had nearly 255,400 shares left. The sale brought in $1.4 million.
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