Bed Bath & Beyond CFO Jumps From 18th Floor of “Jenga Tower” After Disastrous Financial Report
( Liberty Daily )
The Chief Financial Officer for retailer Bed Bath & Beyond has apparently committed suicide following a financial report that included shuttering stores and laying off a massive number of people.
Gustavo Arnal, 52, was the Chief Financial Officer of Bed Bath & Beyond. According to The Daily Mail:
Calls regarding the jump at 56 Leonard Street near Church Street came in at around 12:30 pm on Friday, according to a spokeswoman for the NYPD
The city’s EMS officials responded to the incident and were seen carrying the man’s body off in a black body bag at the base of the famous Manhattan tower
The man was pronounced dead before leaving the scene
He was identified as Gustavo Arnal, Chief Financial Officer of Bed Bath & Beyond, early Sunday morning
Bed Bath & Beyond announced just days earlier that it would have to lay off 20% of its staff and close 150 stores nationwide as high inflation and a sagging economy hammer large US companies
Arnal took on the role of CFO in 2020, having previously worked as an executive at several major companies including Avon, Walgreens, and Procter & Gamble
He reportedly sold over 42,000 shares in the company, oft-identified as a ‘meme stock’, for $1 million just over two weeks ago, according to MarketBeat.com. At the time, he still owned 267,896 shares in the company, valued at just under $6.5million.
Everything about this story seems strange. We will be monitoring closely for further developments.