Bed Bath & Beyond Inc’s chief financial officer fell to his death from New York’s Tribeca skyscraper known as the “Jenga” tower on Friday afternoon, police said, just days after the company said it was closing several stores.
Gustavo Arnal, 52, joined Bed Bath & Beyond in 2020. He previously worked as CFO for cosmetics brand Avon in London and had a 20-year stint with Procter & Gamble, according to his LinkedIn profile.
On Friday at 12:30 p.m., police responded to a 911 call and found a 52-year-old man dead near the building who appeared to suffer injuries from 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 the fatality.
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Bed Bath and Beyond did not immediately respond to requests for comment.
On Aug. 16, Arnal, sold 55,013 shares in the company, Reuters’ calculations showed based on SEC filings.
The big-box chain — once considered 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 goods.
Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business.
Bed Bath & Beyond forecast a bigger-than-expected 26% slump 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 at 56 Leonard Street in Tribeca gets its name from the way the apartments are stacked like blocks in the Jenga game.
(Reporting by Kanishka Singh in Washington and Akriti Sharma in Bengaluru; Editing by Lisa Shumaker and Deepa Babington)
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