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Bed Bath & Beyond CFO Jumps to Death From High Rise, Stock Plummets

Bed Bath & Beyond CFO Jumps to Death From High Rise, Stock Plummets

Bed Bath & Beyond CFO Gustavo Arnal committed suicide by jumping from a high rise building on Friday, September 2. The struggling retailer's stock has now plummeted as a result.

According to a Wall Street Journal report, Bed Bath & Beyond shares "tumbled 16% in premarket trading Tuesday as investors assessed the path ahead for the company after the death of its chief financial officer."

Arnal, 52, was a finance veteran who had worked for the former retail giant for approximately two years. According to another WSJ report, Arnal's tragic death came just days after he briefed investors on the company's plan to secure new financing and close approximately one-fifth of its stores nationwide. 

Earlier this year, the housewares store banked on a new accounting executive, Laura Crossen, to help turn things around. According to a CNBC report at the time:

[Crossen is] replacing John Barresi [as Chief Accounting Officer], who resigned earlier this month after stepping into the role in May of last year. Crossen has been with the company since 2001, most recently as senior vice president of treasury, tax and finance transformation.

Details about Arnal's suicide remain scant, although it has been confirmed that he jumped from the 57-story "Jenga" tower in Tribeca.

New York City police said Monday that their "investigation is ongoing," though medical examiner's office spokeswoman Julie Bolcer has confirmed that the manner of death has been ruled a suicide.

The Washington Post shared a statement from Bed Bath & Beyond's board chairwoman, Harriet Edelman:

“Gustavo will be remembered by 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. 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 CFO leaves behind a wife, Alexandra Cadenas-Arnal, and two daughters. 

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Rebekah Barton

Rebekah Barton

Rebekah's search engine optimization career began completely by accident as a college student. Over the course of her career so far, she has "grown up" with the SEO industry, from writing content while juggling classes to managing her own teams of writers and overseeing SEO strategy in subsequent roles. She is excited to bring her passion for high-quality content to CountingWorks, Inc.

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