Bed Bath & Beyond's CFO commits suicide two days after company announced layoffs

New York: Gustavo Arnal (52), who was the Chief Financial Officer (CFO) of Bed Bath & Beyond since 2020, allegedly jumped from the 18th floor of the 'Jenga' tower in Manhattan, New York on September 2, 2022.

Arnal has been associated with Bed Bath & Beyond since 2020. Previously, he worked as a CFO with Avon, a cosmetic brand.

The incident occurred just two days after the company announced its future plans to close 150 stores and lay-off 20% of its employees.

The police statement did not provide any further details on the case of Arnal's death and said the New York City Medical Examiner's Office would establish the cause of death.

“Gustavo will be remembered for 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,” said Harriet Edelman, independent chair of the company’s board, in a statement.

“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 statement added.

What is the 'Jenga' tower:

The 60-storey tower named 56 Leonard got its 'Jenga' name after its unique and distinctive look, which resembles the game. The tower is situated in Tribeca, New York.

The tower's penthouses, which offer a 360-degree view of the city, are estimated to be worth $24.5 million.

The lobby, townhouse residences, amenities, tower residences, and penthouses are the five zones that make up the skyscraper. It also has ten glass penthouses and 145 apartments.

Published on: Monday, September 05, 2022, 05:15 PM IST