Bed Bath and Beyond CFO jumps to his death after store closures announced

The Daily Wire reported that a high ranking corporate executive plunged to his death last week in what authorities say was suicide. 

Bed Bath & Beyond CFO did not leave a note before jumping

According to the website, 52-year-old Gustavo Arnal had served as chief financial officer for Bed Bath & Beyond until Friday when he fell from his 18th-floor apartment in what is known as the “Jenga Building,” located in the Tribeca neighborhood of New York City.

CNBC pointed to a report from the New York City medical examiner’s office released on Sunday which determined that Arnal had killed himself.

The executive did not leave a note prior to jumping and said nothing to his wife, who is said to have been at home when Arnal jumped.

The Daily Wire noted that Arnal’s death came after Bed Bath & Beyond announced plans for a major shake-up which would include substantial layoffs.

A statement put out by the company noted that it “has identified and commenced the closure of approximately 150 lower-producing Bed Bath & Beyond banner stores.”

The press release included comments made by interim CEO Sue Gove during a telephone call with investors just two before Arnal’s death.

“We are embracing a straight-forward, back-to-basics philosophy that focuses on better serving our customers, driving growth, and delivering business returns,” Gove was quoted as saying.

“We believe these changes will have a widespread positive impact across customer experience, inventory assortment, supply chain execution and cost structure,” she added.

Arnal was named in a securities fraud lawsuit

What’s more, CBS News reported that Arnal was named in a securities fraud lawsuit that accused him of being part of a pump and dump scheme.

CBS News also quoted a statement from Bed Bath chair Harriet Edelman which lamented Arnal’s death as “a shocking loss.”

“Gustavo will be remembered by all he worked with for his leadership, talent and stewardship of our Company,” Edelman said of Arnal. “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.”

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