Gustavo Arnal, chief financial officer of Bed Bath & Beyond, has been identified as the man who plunged to his death on Friday. He was 52.
In a statement obtained by CNN Business, the NYPD confirmed that a man was found unconscious and unresponsive outside of a high-rise apartment building in New York City. Authorities suspected Arnal “appeared to suffer from injuries indicative from a fall from an elevated position.”
A law enforcement official told CNN that it is believed that Arnal leapt from the 18th floor balcony, as his wife witnessed him jump. Even though police have seemingly ruled out foul play, the New York City Medical Examiner’s Office will determine the cause of death as part of the department’s ongoing investigation.
“The entire Bed Bath & Beyond Inc. organization is profoundly saddened by this shocking loss,” the company said in a statement released on Sunday.
“At Bed Bath & Beyond Inc., Mr. Arnal was instrumental in guiding the organization throughout the coronavirus pandemic, transforming the Company’s financial foundation and building a strong and talented team,” the statement continued. “He was also an esteemed colleague in the financial community.”
Before joining Bed Bath & Beyond in 2020, Arnal worked as a finance executive for Avon and Proctor & Gamble, according to the Wall Street Journal.
NBC News mentioned that his shocking death comes days after Bed Bath & Beyond announced plans to close 150 stores and lay off about 20 percent of its workforce as the retail giant looks to combat declining sales.
According to CNN Business, a class action lawsuit was filed late last month accusing Arnal, among others, of deploying a “pump and dump” scheme by allegedly providing misleading statements and sharing fake revenue numbers in order to boost the stock price of the Buy Buy Baby brand.