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Bed Bath & Beyond CFO Leaps to Death from NYC Skyscraper, Just Days After Company Releases Horrible News: Report

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As Bed Bath & Beyond continues to face tanking stock prices and company-wide restructuring, one of the company’s executives jumped to his death on Friday, according to a news report.

Before his identity was revealed, the New York Post reported that a 53-year-old man (he was later found to be 52) had leaped out from the 18th-floor of the famous “Jenga Building” in New York City at about 1 p.m. The building is reportedly a “celebrity-packed” home of the “mega wealthy.”

He was pronounced dead at the scene.

In a follow-up on Sunday, the Post cited police sources to report the man’s identity. His name was Gustavo Arnal and he worked as the chief financial officer of Bed Bath & Beyond.

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According to the Post, Arnal had quite an impressive career.

Before Bed Bath & Beyond, Arnal served as the chief financial officer for cosmetics company Avon. In addition, for 20 years Arnal worked overseas for the multinational consumer goods megacorporation Proter & Gamble.

Arnal was recruited by Bed Bath & Beyond to help the American retail store turn things around.

Have you ever been to a Bed Bath & Beyond?

One company spokesperson told CNBC TV18 that Arnal was hired in 2020 as a “world class talent that could offer new expertise, perspectives and experience” as the company rebuilt itself.

For that experience, Arnal was compensated generously.

Between a $775,000 salary and various stock awards, the executive made more than $2.9 million in 2021, the Post reported.

However, in recent months the American retail company had fallen on hard times.

On Wednesday, shares in Bed Bath & Beyond had fallen by almost a quarter of their value, the Post reported.

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After receiving over $500 million in new financing, the company had also announced a series of upcoming layoffs and store closures. A potential future stock offering is also being considered, according to the Post.

Less than a month ago in mid-August, billionaire Ryan Cohen sold all of his shares in Bed Bath & Beyond. Only a few months prior, the billionaire shareholder activist had taken on a 10 percent stake in the company, the Post reported.

Leading up to his death, Arnal appeared to be divesting some of his shares in the company as well.

According to an Aug 18 report from MarketBeat, Arnal sold 42,413 Bed Bath & Beyond shares.

Only two weeks later, the executive jumped from a skyscraper.

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Michael wrote for a number of entertainment news outlets before joining The Western Journal in 2020 as a staff reporter. He now manages the writing and reporting teams, overseeing the production of commentary, news and original reporting content.
Michael Austin graduated from Iowa State University in 2019. During his time in college, Michael volunteered as a social media influencer for both PragerU and Live Action. After graduation, he went on to work as a freelance journalist for various entertainment news sites before joining The Western Journal in 2020 as a staff reporter.

Since then, Michael has been promoted to the role of Manager of Writing and Reporting. His responsibilities now include managing and directing the production of commentary, news and original reporting content.
Birthplace
Ames, Iowa
Nationality
American
Education
Iowa State University
Topics of Expertise
Culture, Faith, Politics, Education, Entertainment




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