On Sunday, Bed Bath & Beyond confirmed the death of CFO Gustavo Arnal, contradicting earlier police reports that indicated Arnal had been killed in a fall on Friday.
In a statement released Sunday night, the New York City medical examiner’s office claimed the executive committed suicide after suffering numerous traumatic trauma. WNBC was told that Arnal did not leave any sort of letter or communicate with his at-home wife.
In a statement, Bed Bath & Beyond Inc. expressed its “deep sadness” at the terrible loss.
On Tuesday, investors sold off Bed Bath & Beyond shares as they processed the company’s leadership dilemma in the wake of Arnal’s passing. The company recently laid off a number of executives, including the COO, and is now led by interim CEO Sue Gove.
Police say that on a Friday afternoon in midtown Manhattan, 52-year-old Arnal fell from a skyscraper. The landmark high-rise often called “Jenga Tower” or “Jenga Building” consists of over fifty stories of creatively stacked flats.
A representative from the Office of the Deputy Commissioner of the New York Police Department said that Arnal was pronounced dead at the site by emergency medical services.
In 2020, after the outbreak of the coronavirus pandemic, Arnal moved from the London office of cosmetics giant Avon to the more low-key surroundings of Bed Bath & Beyond.
He also worked for Procter & Gamble for a total of 20 years. Bed Bath & Beyond said on Sunday that Arnal “was essential in managing the corporation throughout the coronavirus outbreak.”
Arnal has been a frequent buyer and seller of Bed Bath & Beyond shares since he first joined the company. According to a document, he sold more than 55,000 shares last month for a total of $1.23 million at prices ranging from $20 per share to $29.95 per share.
He made those purchases as part of a trading arrangement he signed back in April. After accounting for his recent sales, the filing shows he still holds 255,396 shares.
Chief Financial Officer Gustavo Arnal of Bed Bath & Beyond After 52 years on Earth, he takes his own life.
After a fatal argument with his wife, Bed Bath & Beyond’s CFO Gustavo Arnal jumped from the 18th story of 56 Leonard Street, near Church Street. The building’s unique shape has earned it the nickname “Jenga Building.”
The unfortunate event occurred on September 2, 2022, at approximately 12:30 PM. Arnal had already passed away by the time the emergency medical services arrived. The police placed his remains in a black body bag and transported them for an autopsy.
The New York Police Department verified that Arnal was discovered unconscious in Manhattan with injuries consistent with a fall from a high place.
The police are still looking into the circumstances surrounding the death, which will be determined by the New York City Medical Examiner’s Office.
Where did Gustav Arnal come from? Complete Guidance
New York City was home to well-known businessman Gustavo Arnal. After completing his studies in mechanical engineering at Venezuela’s Simón Bolvar University, he left the country.
He attended the Metropolitan University of Caracas and graduated with a master’s degree in finance. Arnal spent close to twenty years at Procter & Gamble in a variety of roles involving Tide detergent, Pringles potato chips, and other brands.
In the spring of 2019, he was promoted to the position of executive vice president and chief financial officer of the Avon, New Hampshire-based cosmetics firm.
Bed Bath & Beyond announced the tragic loss with a heartfelt tribute.
Bed Bath & Beyond announced the tragic demise of Gustavo Arnal on Sunday, September 4, 2022.
Everyone who had the pleasure of working with and for Gustavo will always be grateful for his visionary leadership, extraordinary talent, and careful management of our Company.
In a statement, Bed Bath & Beyond’s independent board chair Harriet Edelman said, “I am honored to have been his colleague, and he will be sorely missed by all of us at Bed Bath & Beyond and everyone who had the pleasure of knowing him.”
In this time of loss and sorrow, our thoughts and prayers are with his loved ones and the rest of the team. In addition, the statement asks that everyone help keep the family’s privacy at this difficult time.