Gustavo Arnal Wiki – Gustavo Arnal Biography
MANHATTAN, NEW YORK – The man who jumped from the 18th floor of the 57-story Tribeca skyscraper on Friday, September 2, has been identified as Gustavo Arnal, CFO of Bed Bath & Beyond.
Arnal was also executive vice president of the struggling retail company. The 52-year-old committed suicide in the building that derives its name from the popular game ‘Jenga’ due to its consciously misaligned apartments stacked on top of each other like Jenga blocks. The company is in dire straits as it has been facing mounting losses.
Gustavo Arnal Age
Gustavo Arnal was 52 years old.
Gustavo Arnal Cause of Death
According to a New York police spokesman, Arnal jumped from the skyscraper around 12:30 p.m. when the first calls related to the emergency were made. He was pronounced dead at the scene. According to the Daily Mail, there was another person at the scene who was hospitalized with minor injuries. EMS officers responded to the incident and took over Arnal’s body.
Arnal, who had previously worked at several major companies including Avon, Walgreens and Procter & Gamble, took on the responsibilities of chief financial officer in 2020. His death comes just days after the retailer announced it would lay off 20 percent of its employees. its corporate and supply chain workforce and the closing of 150 stores across the country as a result of skyrocketing inflation. The positions of director of operations and director of stores will also be eliminated.
Additionally, MarketBeat had recorded that Arnal sold 42,513 shares of the company, often referred to as “meme shares,” for just over $1 million on August 16. He was said to still own 267,896 shares of the company, valued at just under $6.5 million.
Bed Bath & Beyond is suffering due to inflation. CEO Mark Tritton was fired in June after a 25 percent drop in sales in the first quarter. He was replaced by Sue Gove, an independent board director, on an interim basis. Previously, Gove had stated that the company “continued to see significant positive momentum” and planned to build on its “deep heritage as a retailer”. She also added: “While there is much work ahead, our roadmap is clear and we are confident that the significant changes we have announced today will have a positive impact on our performance.”
The apartment in the ‘Jenga building’ cost up to 50 million dollars. According to the New York Post, the building is home to the mega-rich, with celebrities like singer Frank Ocean residing there. The curiously designed structure was developed by the Alexico Group and was the first skyscraper to be designed by internationally renowned architects Herzog & de Meuron. It took 33 months to finish.