Treasurer at ailing US company falls to his death from tower

Treasurer at struggling company jumps off the tower

Gustavo Arnal, 52, was chief financial officer of Bed Bath & Beyond, which faced difficulties when the economy faltered (Image: LinkedIn/Getty Images/Rex/Facebook)

A man who jumped to his death from the 18th floor of New York’s landmark “Jenga Tower” has been identified as an executive at Bed Bath & Beyond.

Gustavo Arnal, 52, was chief financial officer for the US home goods chain, which is struggling as the economy falters.

The company announced plans to close 150 of about 900 stores and lay off 20% of the workforce two days before Mr. Arnal’s death in the Tribeca neighborhood of lower Manhattan.

Rescue workers were there around 12.30pm and were seen carrying away the body of a man in a black body bag.

A second person was taken to the hospital with minor injuries, the fire department said.

On Wednesday, Bed, Bath & Beyond announced a plan to issue new shares and said it had secured funding – but shares are down as much as 25% in this morning’s trading.

Mr Arnal reportedly sold 42,000 shares for $1 million (£868,500) two weeks ago.

The chief financial officer of the troubled Bed Bath & Beyond has been identified as the man who emerged from the iconic new Tribeca skyscraper known as

Mr Arnal’s company had announced plans to close 150 stores out of about 900 (Image: LinkedIn)

56 LEONARD STREET TOWER BUILDING (©HERZOG DE MEURON 2017) DOWNTOWN MANHATTAN NEW YORK CITY USA

He jumped to his death from the 18th floor of New York’s iconic “Jenga Tower” (Image: Alamy Stock Photo)

11178041 Bed Bath & Beyond CFO, 52, is identified as a man who jumped to his death from the 18th floor of the'Jenga' tower in New York - two days after the company announced plans to lay off 20% of its staff and to close 150 stores. IMAGE/RIGHT: Gustavo Arnal - Photo by Facebook, posted in 2013

Mr Arnal was believed to still own $6.5 million worth of stock in the company (Image: Facebook / Gustavo Arnal)

At the time, he still owned 267,896 worth $6.5 million.

He joined the company in 2020 – when it was struggling because of the pandemic – from London-based cosmetics giant Avon, where he was also CFO, and had spent 20 years at Proctor & Gamble.

Bed, Bath & Beyond CEO Mark Tritton was fired in June after the company’s revenue fell 25% in the first quarter.

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https://metro.co.uk/2022/09/05/finance-officer-at-struggling-us-firm-jumps-to-death-from-tower-17299450/ Treasurer at ailing US company falls to his death from tower

Justin Scacco

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