Leading Venezuelan executive dies by suicide in New York
Gustavo Arnal, chief financial officer of Bed Bath & Beyond, jumped from a New York skyscraper in the Tribeca neighborhood.
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According to the police, which spoke to the New York Post, Bed, Bath & Beyond CFO Gustavo Arnal jumped to his death from the 18th floor of a tower at 56 Leonard Street on Friday, Sept. 2.
Days before, he announced that he would close 150 stores and also cut 20% of his staff after presenting financial problems.
Arnal was also facing charges related to a $1.2 billion stock fraud lawsuit filed last month.
Last month, Bed Bath & Beyond plunged on the stock market following the exit of a well-known investor.
By Aug. 16, Arnal was also executive vice president of the chain and sold 42,513 shares of the company for approximately $1 million, according to MarketBeat.com.
The Venezuelan joined Bed Bath & Beyond in 2020. Prior to that, he worked as CFO for Avon Cosmetics at its London headquarters and had a 20-year career working overseas leading Procter & Gamble.
The medical examiner's office ruled that Arnal had died from serious trauma and ruled it a suicide.
"Gustavo will be remembered by all who worked with him for his leadership, talent and stewardship of our company. I am proud to have been his colleague, and all of us who had the pleasure of knowing him will miss him," Harriet Edelman, independent chair of the company's board of directors, said in a statement.