September 22, 2023

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Bed Bath & Beyond CFO drowns to death in Jenga Tower in New York

Bed Bath & Beyond CFO drowns to death in Jenga Tower in New York

Signs at the Bed Bath & Beyond store in Manhattan, New York City, US, June 29, 2022. REUTERS/Andrew Kelly/File Photo

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Sept 4 (Reuters) – Bed Bath and Beyond, Inc (BBBY.O) The chief financial officer of New York’s Tribeca skyscraper known as “Jinja” Tower died on Friday afternoon, police said, just days after the company announced it was closing several stores.

Gustavo Arnal, 52, joins Bed Bath & Beyond (BBBY.O) In 2020. Previously worked as CFO of cosmetics brand Avon in London and spent 20 years with Procter & Gamble (PG.N)according to his LinkedIn profile.

On Friday at 12:30 p.m. EDT (1630 GMT), police responded to a 911 call and found a 52-year-old man dead near the building who appeared to have injuries from a fall. The police identified the man as Gustavo Arnal.

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The police statement did not provide further details about the circumstances that led to Arnal’s death, but added that the New York City medical examiner’s office will now determine the cause of death.

Bed Bath and Beyond did not immediately respond to requests for comment.

On August 16, Arnal sold 55,013 shares in the company, Reuters calculations show based on SEC filings.

The big box chain – once known as a “category killer” in home and bath supplies – has seen its fortunes falter after trying to sell more of its own brand, or private-brand merchandise.

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Last week, Bed Bath & Beyond said it would close 150 stores, cut jobs and overhaul its business strategy in an effort to turn around its loss-making business. Read more

Bed Bath & Beyond forecast a larger-than-expected 26% drop in same-store sales for the second quarter and said it would keep the Buybuy Baby business it had put up for sale.

The 60-story tower at 56 Leonard Street in Tribeca gets its name from the way the apartments are stacked like blocks in a jinga game.

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Additional reporting by Kanishka Singh in Washington and Akrit Sharma in Bengaluru; Editing by Lisa Shumaker and Deepa Babington

Our criteria: Thomson Reuters Trust Principles.