Bed Bath & Beyond CFO identified as man who jumped from NYC tower to his death

The NYPD said in a statement Sunday that Arnal, 52, was found unconscious and unresponsive in front of his 57-story luxury skyscraper in the Tribeca neighborhood around 12:30 p.m. Friday. Police said the man “appeared to be suffering from injuries indicative of a fall from a high position”. EMS responded and pronounced the man dead, police said.

The police source told CNN on Sunday that Arnal’s wife saw him jump. The source said that while no suicide note was found, no criminality is suspected.

The NYPD said the New York City Medical Examiner’s Office will determine the cause of death and the investigation is continuing. CNN contacted the medical examiner’s office but did not receive an immediate response.

Bed Bath & Beyond is “deeply saddened by this shocking loss,” a company spokesperson said in response to Arnal’s passing.

In a statement on Sunday, Bed Bath & Beyond Independent Board Chair Harriet Edelman said, “I want to send our deepest condolences to Gustavo’s family.”

Edelman added, “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.”

The statement said Arnal joined Bed Bath & Beyond Inc. in May 2020 after a career in finance at Avon, Walgreens Boots Alliance and Procter & Gamble.

Edelman said Arnal had “helped guide the organization through the coronavirus pandemic, transformed the company’s financial foundations, and built a strong and talented team. He was also a valued colleague in the community. financial”.

CNN reported this week that Bed Bath & Beyond is in deep turmoil. The company is trying to save itself and avoid bankruptcy by shrinking. The chain announced on Wednesday that it would lay off about 20% of the company’s employees, close about 150 stores and cut several of its homeware brands. The company also said it secured more than $500 million in funding to shore up its difficult financial situation.

Arnal has been named a defendant in a class action lawsuit accusing him, Ryan Cohen and other major shareholders of engaging in a “pump and dump” scheme to artificially inflate the company’s stock price.

The lawsuit was filed Aug. 23 in the United States District Court for the District of Columbia.

The lawsuit alleges that Arnal and others made misleading statements and omissions when communicating to investors about BBBY’s strategic plans and financial condition, and delayed disclosures about the ownership and sale of their own stock. .

The lawsuit also alleges that stakeholders shared false revenue figures and the company’s plans to create its “Buy Buy Baby” brand to fuel a stock-buying frenzy.

Editor’s Note: If you or someone you know is struggling with suicidal thoughts or mental health issues, please call the National Suicide Prevention Lifeline at 988 to connect with a trained counselor or visit of the NSPL.

Comments are closed.