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Wednesday, February 1, 2023

Bed Bath & Beyond CFO Gustavo Arnal ID’d as man who jumped from NYC building, report says

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This story discusses suicide. If you or someone you know is having thoughts of suicide, please contact the Suicide & Crisis Lifeline at 988 or 1-800-273-TALK (8255).

Gustavo Arnal, an executive vice president and the chief financial officer of Bed Bath & Beyond, was identified as the man who plunged from the 18th floor of a New York City skyscraper on Friday, according to a report.

Arnal, 52, jumped from a tower in Manhattan’s Tribeca section known as the "Jenga Building," the New York Post first reported, citing police sources.

Bed Bath & Beyond confirmed in a news release on Sunday that Arnal died on Friday.

"I wish to extend our sincerest condolences to Gustavo's family," Harriet Edelman, independent chair of the Bed Bath & Beyond Inc. board of directors said in a written statement. "Gustavo will be remembered by all he worked with for his leadership, talent and stewardship of our Company."

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"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," Edelman continued. "Our focus is on supporting his family and his team and our thoughts are with them during this sad and difficult time. Please join us in respecting the family's privacy."

Bed Bath & Beyond store facade

Bed Bath & Beyond store sign (iStock / iStock)

The incident happened two days after Bed Bath & Beyond announced it will cut about 20% of its workforce across corporate and supply chain and close 150 lower-producing stores as part of a broader turnaround plan.

Shares at the time tumbled more than 20% on the news.

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Arnal sold 42,513 shares of Bed Bath & Beyond stock on Aug. 16 for more than $1,029,000, according to MarketBeat.com. Following the transaction, Arnal still owned 267,896 shares in the company, valued at more than $6,488,000.

Ticker Security Last Change Change %
BBBY BED BATH & BEYOND INC. 8.63 -0.08 -0.92%

Arnal previously served as chief financial officer at beauty company Avon and served in multiple executive roles for more than 20 years at Procter & Gamble.

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The "Jenga Building" is 60 stories tall and gets its name from how the purposefully misaligned floors are stacked like the "Jenga" game.

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