The death of Bed Bath & Beyond CFO Gustavo Arnal was officially ruled a suicide by the city’s medical examiner on Monday. Arnal jumped to his death from his fancy Tribeca high-rise apartment.
Gustavo Arnal, the company’s CFO before he died, jumped off the 18th floor of the luxurious “Jenga Building” on Friday afternoon. The company was having money problems and he was being accused of “pump-and-dump” stock fraud in a lawsuit filed last month for $1.2 billion. The office of the medical examiner said that Arnal died from multiple blows to the head.
Law enforcement sources told The Post that the 52-year-old man jumped to his death while his wife was inside their apartment. He did not leave a note explaining why he did it.
In May 2020, Arnal started working at Bed Bath & Beyond. In a statement released on Sunday, the company said that the “distinguished global executive” was responsible for helping them get through the worst of the COVID-19 pandemic.
“Everyone who worked with Gustavo will remember his leadership, talent and care for our Company,” said Harriet Edelman, chair of the board of directors. “… We are focusing on helping his family and team and we are thinking of them during this sad and hard time.”
A few days before he died, the retail giant said it would close 150 stores and cut 20% of its staff.
Arnal, who used to work at Avon, Walgreen Boots Alliance and Procter & Gamble, was named in a lawsuit on August 23 that said he and others had inflated the share price of Bed Bath & Beyond.
In a statement to The Post on Sunday, the company said, “We will not comment on a legal matter and we ask that you give Mr. Arnal’s family and their privacy at this time.”
Stay tuned for more such updates, Nog Magazine.
Jessa Martin is the author of Nogmagazine, A professional in writing by day, and novelist by night, she received her bachelor of arts in film from Howard University and her master of arts in media studies from the New School. A Brooklyn native, she is a lover of naps, cookie dough, and beaches, currently residing in the borough she loves, most likely multitasking.