The chief financial officer of Bed Bath & Beyond died in what the company describes as a “shocking loss.”
The New York Police Department said Gustavo Arnal died after falling from a Manhattan skyscraper. Officers were notified of an unconscious person near a building around 12:30 p.m. on Friday. Responding emergency services pronounced the man deceased on the scene.
The man was later identified as 52-year-old Gustavo Arnal of New York City.
No cause of death was announced, but officials said the the New York City Medical Examiner’s Office is investigating the death and the case remains ongoing.
Police would not comment on if the death was being investigated as suspicious and referred questions to the Medical Examiner’s Office. USA TODAY has asked the office for further details.
Arnal had joined Bed Bath & Beyond in May 2020 after time with cosmetic company Avon and 20 years at Proctor & Gamble.
Bed Bath & Beyond said in a statement Sunday the company is “profoundly saddened by this shocking loss,” adding Arnal helped guide the company through the pandemic and transforming its financial foundation.
“I wish to extend our sincerest condolences to Gustavo’s family. 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,” said Harriet Edelman, independent chair of the Bed Bath & Beyond Inc. board of directors.
“Our focus is on supporting his family and his team and our thoughts are with them during this sad and difficult time,” Edelman added.
Arnal was recently named in a lawsuit accusing him of insider trading and fraud, according to court documents. GameStop chairman Ryan Cohen was also named in the suit.
The lawsuit came after Bed Bath and Beyond’s stock went up more than 350% from July 25 to August 17.
The company announced on Aug. 31 it was reducing its workforce by 20% and closing around 150 stores nationwide.
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