Bed Bath & Beyond’s Chief Financial Officer and Executive Vice President Gustavo Arnal has reportedly taken his own life by jumping to his death from the 18th floor of the “Jenga Building” in New York City.
WNBC reported: [Police responded] around 12:20 p.m. from the Leonard Street apartment building. Investigators believe Arnal’s fall was intentional, but left no note behind or said anything to his wife prior to his death, who was home at the time, sources said.
A statement from Bed Bath & Beyond’s Board of Directors called his passing a “shocking loss.”
“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. Please join us in respecting the family’s privacy.”
“Arnal joined Bed Bath & Beyond Inc. in May 2020 following a distinguished global career in finance at Avon, Walgreens Boots Alliance, and Procter & Gamble. At Bed Bath & Beyond Inc., Arnal was instrumental in guiding the organization throughout the coronavirus pandemic, transforming the Company’s financial foundation and building a strong and talented team. He was also an esteemed colleague in the financial community.”
Apparently the company recently announced that the company would cut 20% from its workforce, close 150 buildings over the next 18 months last Wednesday, which saw the company’s stock lose about a quarter of its value.
But Gustavo sold more than 55,000 shares of company stock last month, earning the executive $1.23 million.
That is NO chump change!
Gustavo lived in a Manhattan skyscraper, where condominiums start at $3.5 million and go as high as $50 million, only days after his company announced bad financial news.
$50 million for a freaking condo?
$BBBY – Bed Beth & Beyond CFO commits suicide— Oil Stocker (@OilStocker) September 4, 2022
“Bed Bath & Beyond CFO, 52, is identified as man who jumped to his death from 18th floor of NYC’s ‘Jenga’ tower – two days after firm announced plans to lay off 20% of staff and close 150 stores “https://t.co/1VC9J0UM5f
Charles Payne who is a successful investor weighed in on Twitter saying- “Life is not a game and neither is investing. I pray for the Arnal family. Sure he was under tremendous pressure. Financial media reports numbers w/total disregard for humans behind them. Declare “losers” daily & cheer demise of certain stocks. This is good time for introspection.”
Life is not a game and neither is investing. I pray for the Arnal family. Sure he was under tremendous pressure. Financial media reports numbers w/total disregard for humans behind them. Declare “losers” daily & cheer demise of certain stocks. This is good time for introspection. pic.twitter.com/qyP1Nf0aL6— Charles V Payne (@cvpayne) September 4, 2022
Via The Beltway Report:
Bed Bath & Beyond drew the ire of conservatives in January of last year, when the company removed Mike Lindell’s MyPillow line of products from its stores after Lindell supported 45th President Donald Trump’s efforts to prevent Joe Biden from ascending to the White House.
In a series of tweets, the left wing Twitter account MeidasTouch, which also has a website, bragged that its influence helped lead Bed Bath & Beyond to drop Lindell’s products.
Bed Bath & Beyond has now officially DROPPED MyPillow! Thank you to everyone who stepped up and help amplify our message and thank you to @BedBathBeyond for siding with democracy. https://t.co/otp3dH7r7c— MeidasTouch (@MeidasTouch) January 19, 2021
However, it also seems likely that a store which primarily sells higher end home products would suffer during an economy that experts agree is trending toward a recession.
Inflation remains at unprecedented levels, gas prices remain around $4 per gallon, and the White House has spent almost all of its time demonizing its political opponents as “extreme” and a “threat” to “democracy” rather than pursuing policies to address the crumbling economy.
So we really don’t know why he allegedly jumped from the 18th floor of his condo but to me it’s very suspicious.
All Americans are feeling the effects of the O’Biden presidency and maybe he just couldn’t handle the pain that has been inflicted on us all.
Or maybe it’s something more but at this point we just don’t know.
A top executive at Bed Bath & Beyond died Friday afternoon after falling from his high-rise apartment building in Tribeca, law enforcement sources tell News 4. https://t.co/B0GxPcV4zo— NBC New York (@NBCNewYork) September 4, 2022
If you are struggling with suicidal thoughts or are experiencing a mental health crisis and live in New York City, you can call 1-888-NYC-WELL for free and confidential crisis counseling. If you live outside the five boroughs, you can dial the 24/7 National Suicide Prevention hotline by calling 988 or go to SuicidePreventionLifeline.org.
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