UNION, NJ (AP) — Gustavo Arnal, chief financial officer of the Bed Bath & Beyond chain of stores, has died, the company confirmed Sunday.
The company said Arnal died on Friday. According to the New York Police Department, police found the 52-year-old man unconscious with injuries showing he had fallen from a building in Manhattan. He was pronounced dead at the scene and the New York City Medical Examiner’s Office will determine the cause of death. Police said an investigation is underway.
Arnal joined the company in May 2020 after previous stints at Avon, Walgreens Boots Alliance and Procter & Gamble.
“All those he worked with will remember Gustavo for his leadership, his talent and his stewardship of our business. I am proud to have been his colleague, and he will be missed by all of Bed Bath & Beyond and all who had the pleasure of knowing him,” said Harriet Edelman, independent chair of the company’s board of directors. , in the Sunday press release.
Bed Bath & Beyond has faced some turbulence recently: its shares made a monstrous run from $5.77 to $23.08 in just over two weeks in August, in trading reminiscent of the stock craze of memes from last year, when underprivileged companies suddenly became darlings of small investors. On Wednesday, the company announced it would close stores and lay off workers in a bid to turn around its beleaguered business.
The Union, New Jersey-based home goods retailer said it would close about 150 of its namesake stores and cut its workforce by 20%.
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