Bed Bath & Beyond CFO Gustavo Arnal falls to death from Jenga building in New York
Bed Bath & Beyond, Inc. CFO Gustavo Arnal has been identified as the person who jumped from the 18th floor of a Tribeca skyscraper, aka the Jenga Building , to his death on Friday, the New York Post reported. The building is located in Manhattan.
Although the death was reported the day of the incident, the person's identity was not known until Sunday.
"I want to send our deepest condolences to Gustavo's family. All those he worked with will remember Gustavo for his leadership, talent and stewardship of our business," said said Harriet Edelman, Independent Chair of Bed Bath & Beyond's Board of Directors. "Our goal is to support his family and team and our thoughts are with them during this sad and difficult time. Please join us in respecting the family's privacy."
Arnal had been the home furnishings and accessories retailer's chief financial officer since May 2020. He previously worked for British cosmetics chain Avon as chief financial officer and had previous experiences with Walgreens Boots Alliance Inc. WBA and Procter & Gamble Company PG.
The executive earned approximately $2.9 million in compensation in 2021, including a base salary of $775,000 and stock awards, the Post said, citing InsiderTrades. com. On August 18, he sold 55,013 shares of the company.
See also: Bears Grip Bed, Bath & Beyond Stock: Here's where the bulls might fight for control
The Bed Bath & Beyond stock has gained meme status due to frenzied interest from retailers. The brick-and-mortar retailer has suffered along with other retail names amid the COVID pandemic. Following deteriorating fundamentals, the company recently announced restructuring initiatives, including job cuts and store closures, while raising additional funding through an equity offering.
>The retailer's shares began trending lower in April and hit levels below $5 in July. A meme rally took place in August, sending the stock as low as $30 in mid-August. News of the sale of the entire 10% stake by activist investor Ryan Cohen sent the stock plummeting thereafter.
Bed Bath & Beyond closed Friday's session down 0.92% at $8.63, according to data from Benzinga Pro.
Photo: courtesy of Ken Lund on flickr
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Bed Bath & Beyond, Inc. CFO Gustavo Arnal has been identified as the person who jumped from the 18th floor of a Tribeca skyscraper, aka the Jenga Building , to his death on Friday, the New York Post reported. The building is located in Manhattan.
Although the death was reported the day of the incident, the person's identity was not known until Sunday.
"I want to send our deepest condolences to Gustavo's family. All those he worked with will remember Gustavo for his leadership, talent and stewardship of our business," said said Harriet Edelman, Independent Chair of Bed Bath & Beyond's Board of Directors. "Our goal is to support his family and team and our thoughts are with them during this sad and difficult time. Please join us in respecting the family's privacy."
Arnal had been the home furnishings and accessories retailer's chief financial officer since May 2020. He previously worked for British cosmetics chain Avon as chief financial officer and had previous experiences with Walgreens Boots Alliance Inc. WBA and Procter & Gamble Company PG.
The executive earned approximately $2.9 million in compensation in 2021, including a base salary of $775,000 and stock awards, the Post said, citing InsiderTrades. com. On August 18, he sold 55,013 shares of the company.
See also: Bears Grip Bed, Bath & Beyond Stock: Here's where the bulls might fight for control
The Bed Bath & Beyond stock has gained meme status due to frenzied interest from retailers. The brick-and-mortar retailer has suffered along with other retail names amid the COVID pandemic. Following deteriorating fundamentals, the company recently announced restructuring initiatives, including job cuts and store closures, while raising additional funding through an equity offering.
>The retailer's shares began trending lower in April and hit levels below $5 in July. A meme rally took place in August, sending the stock as low as $30 in mid-August. News of the sale of the entire 10% stake by activist investor Ryan Cohen sent the stock plummeting thereafter.
Bed Bath & Beyond closed Friday's session down 0.92% at $8.63, according to data from Benzinga Pro.
Photo: courtesy of Ken Lund on flickr
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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