Gustavo Arnal, the Chief Financial Officer of the very troubled firm, Bed Bath & Beyond, recently died by jumping from the iconic new Tribeca skyscraper, popularly known as the “Jenga Building”.
The death of the CFO Gustavo Arnal has come at a time when Bed Bath & Beyond, the American retail stores chain, is going through extremely hard times. Gustavo Arnal was also the executive Vice President of the home goods retailer company.
Gustavo jumped from the 18th floor of 56 Leonard street on Friday, taking away his life. The iconic building is famous for its misorganized apartments stacked on top of each other in such a way that the pattern resembles a game of “Jenga”, hence earning the skyscraper the name of “Jenga Building”.
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The New York Police Department reported that they got the calls regarding the jump at around 12:30 pm on 2 September. Notingly, the incident took just 2 days after the company announced that it was shutting down 150 of its around 900 stores and lay off 20% of its staff.
According to MarketBeat.com, Gustavo Arnal had sold his 42,513 shares in company stock for a little over a $1 million on 16 August. Gustavo Arnal had joined Bed Bath & Beyond in 2020. He previously worked as the CFO for London-based cosmetics giant, Avon.
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Gustavo Arnal reportedly made $2.9 million out of Bed Bath & Beyond in 2021, with $7,75,000 coming in the form of salary and the rest in stock awards, says InsiderTrades.com. At the time, Gustavo Arnal had 267,896 shares in the company with a value of a little under USD 6.5 million.
The Jenga Building Gustavo Arnal jumped from, is a 821-foot-tall 60-storey luxury building in Tribeca, Manhattan, New York City and is the tallest structure in Tribeca. It has 145 residences priced between $3.5 million to $50 million and is home to many celebrities.
When Gustavo had joined the company in 2020, a company spokesperson had said that they were bringing in world class talent that would open new doors for the company’s revival. He was brought in at the time of COVID-19 when businesses were suffering globally.
