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Tuesday 28 May, 2024
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Who Was Gustavo Arnal? Cause of Death, Obituary and Wife

BY Anas Shah Sep 04, 2022. 03:48 pm

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Gustavo Arnal, the Chief Financial Officer of Bed Bath & Beyond, a US-based network of retail outlets, has been identified as the man who leapt from the 18th story of the “Jenga” skyscraper in Manhattan, New York, on September 2.

According to a New York Police Department (NYPD) official, calls about the leap began to come in approximately 12.30 pm on September 2.
Two days prior to the event, the company had announced plans to close 150 of its roughly 900 outlets and let go of 20% of its workforce.
A little more than two weeks ago, Arnal reportedly sold more than 42,000 shares of the business—which was sometimes referred to as a “meme stock”—for USD $1 million, according to MarketBeat.com. Arnal held 267,896 shares in the business at the time, each worth just under USD 6.5 million.

Read More: Gustavo Arnal, CFO Of Bed Bath & Beyond Biography, Net Worth and Salary

In 2020, when Bed Bath & Beyond was already having trouble due to the COVID-19 epidemic, Arnal joined the company. He had previously served as CFO of the well-known cosmetics company Avon in London and had worked for Proctor & Gamble for 20 years.

When Arnal joined Bed Bath & Beyond in April 2020, a corporate representative claimed that Arnal was an example of the kind of top-tier talent that the company was bringing on board to help it rebuild its business.
The organisation had also stated that Arnal’s expertise in implementing business transformation at top companies, his familiarity with the consumer goods and retail industries, as well as his zeal and drive, would aid in accelerating its transformation goals.

Gustavo Arnal Wife and Children

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Gustavo Arnal Wife and Children

Read More: Gustavo Arnal faced lawsuit for allegedly inflating the Bed Bath & Beyond’s stock price in a ‘pump and dump’ scheme

Bed Bath & Beyond’s financial situation has recently deteriorated; its CEO, Mark Tritton, was sacked in June after the company’s first-quarter sales fell by 25%.
Later, it appointed independent board director Sue Gove to take over for him in the interim.

Gove claimed last week that the shop was experiencing a strong upswing.

Read More: Woman, 35 fall to death from from sixth floor window of Majorca hotel

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