Bed Bath & Beyond CFO dies after falling from NYC tower

The chief financial officer of Bed Bath & Beyond Inc. died Friday afternoon from New York’s Tribeca skyscraper, known as the “Jenga” tower, police said, just days after the company announced the closure of several stores.

Gustavo Arnal, 52, joined Bed Bath & Beyond in 2020. He previously worked as chief financial officer for cosmetics brand Avon in London and spent 20 years at Procter & Gamble, according to his LinkedIn profile.

At 12:30 p.m. ET on Friday, police responded to a 911 call and found a 52-year-old man dead near the building who appeared to have been injured in a fall. Police identified the man as Gustavo Arnal.

The police statement did not provide further details on the circumstances leading to Arnal’s death, but added that the New York City Medical Examiner’s Office will now determine the cause of death.

Bed Bath & Beyond did not immediately respond to requests for comment.

On Aug. 16, Arnal sold 55,013 shares of the company, according to Reuters calculations based on SEC filings.

The big-box chain – once seen as a so-called “category killer” in home and bath goods – has seen its fortunes falter after an attempt to sell more of its own brand or private label products.

Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its merchandising strategy in a bid to turn around its loss-making business.

Bed Bath & Beyond forecast a bigger-than-expected 26% drop in same-store sales for the second quarter and said it would retain its buybuy Baby business, which it had put up for sale.

The 60-story tower located at 56 Leonard St. in Tribeca gets its name from the way apartments are stacked like blocks in the game Jenga.

(Reporting by Kanishka Singh in Washington and Akriti Sharma in Bangalore; Editing by Lisa Shumaker and Deepa Babington)


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