Bed Bath & Beyond CFO Gustavo Arnal. (Bed Bath & Beyond Handout via Reuters)
Gustavo Arnal, a 52-year-old who was the company’s chief financial officer and an executive vice president, fell from the “Jenga Tower” on Leonard Street, the New York City Police Department confirmed to news outlets.
Bed Bath & Beyond also issued a statement, confirming his death.
“I wish to extend our sincerest condolences to Gustavo’s family,” Harriet Edelman, the chair of Bath & Beyond Inc. Board of Directors, said in a statement on Sunday. “Gustavo will be remembered by all he worked with for his leadership, talent and stewardship of our Company.”
“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 added. “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.”
On Friday at 12:30 p.m. ET, police responded to a 911 call and found a 52-year-old man dead near the building who appeared to suffer injuries from a fall. The individual’s identity was not immediately identified, but on Saturday, unnamed sources told the New York Post that it was the Bed Bath & Beyond CFO.
On Aug. 31, Bed Bath & Beyond—which drew criticism in 2021 for pulling MyPillow products over CEO Mike Lindell’s claims about the 2020 election—said it would close 150 stores, cut jobs, and overhaul its merchandising strategy in an attempt to turn around its money-losing business.
Bed Bath & Beyond forecast a bigger-than-expected 26 percent slump in same-store sales for the second quarter and said it would retain its buybuy Baby business, which it had put up for sale. Arnal, meanwhile, sold 55,013 shares in the company on Aug. 16, according to a report from MarketBeat.com.
The big-box chain, which was once considered a so-called “category killer” in home and bath goods, has seen its fortunes falter after an attempt to sell more of its own-brand or private-label goods.
The company has experienced even more decline in recent months, with former CEO Mark Tritton being fired in June after sales dropped 25 percent in the first quarter.
According to his LinkedIn profile, Arnal joined Bed Bath & Beyond in May 2020 after serving as CFO for Avon for about a year. Before that, he worked in a similar role at Procter & Gamble for 20 years.
The 60-story tower at 56 Leonard Street in Tribeca gets its name from the way the apartments are stacked like blocks in the Jenga game. The building opened in 2017, a decade after construction began. SOURCE
Father I pray for the family of this man who jumped to his death. Please draw members of his family to You, Lord. I ask this in the name of Jesus. Amen.