The Executive Vice President & Chief Financial Officer of Bed Bath & Beyond Inc., Gustavo Arnal has been confirmed to be the man who plunged from the 18th floor of a New York City skyscraper on Friday.
Arnal, 52, jumped from a tower in Manhattan’s Tribeca section known as the “Jenga Building,” the New York Post first reported, citing police sources.
Bed Bath & Beyond issued a statement on Sunday announcing the death of Executive Vice President and Chief Financial Officer Gustavo Arnal.
“I wish to extend our sincerest condolences to Gustavo’s family,” Harriet Edelman, independent chair of the Bed Bath & Beyond Inc. board of directors, said in a written statement. “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 continued. “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.”
The company confirmed that Arnal, 52, died on Friday but did not elaborate on how he died.
The incident happened two days after Bed Bath & Beyond announced it will cut about 20% of its workforce across corporate and supply chain and close 150 lower-producing stores as part of a broader turnaround plan.
Fox Business reported that Arnal sold 42,513 shares of Bed Bath & Beyond stock on Aug. 16 for more than $1,029,000, according to MarketBeat.com. Following the transaction, Arnal still owned 267,896 shares in the company, valued at more than $6,488,000.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur