On Friday, it was announced that Gustavo Arnal, the chief financial officer of Bed Bath & Beyond tragically died.
And now his cause of death has been revealed…
The news of Arnal’s death came as a huge shock to his family and colleagues.
The devastating news was confirmed in a statement by Harriet Edelman, Independent Chair of Bed Bath & Beyond’s board of directors.
“I wish to extend our sincerest condolences to Gustavo’s family,” Edelman said.
“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.”
Edelman added that Bed Bath & Beyond would rally around Arnal’s “family and his team,” and shared that their “thoughts are with them during this sad and difficult time.”
The fifty-two-year-old was found “unconscious and unresponsive” at roughly 12:30 p.m. on Friday according to a report by the NYPD obtained by People.
The executive appeared to “suffer from injuries indicative of a fall from an elevated position,” the report stated, and he was pronounced dead at the scene.
According to Reuters, Arnal was found at the bottom of the multi-story skyscraper 56 Leonard.
His death coincides with Bed Bath & Beyond’s loss in sales.
Just last week, the company announced it was closing over a hundred stores and significantly reducing its workforce.
According to the company’s press release, they said: “The Company has identified and commenced the closure of approximately 150 lower-producing Bed Bath & Beyond banner stores.”
This comes after a previous closure of 40 locations nationwide at the start of the pandemic in 2020.
“We’re continually evolving to serve our loyal Bed Bath & Beyond customers better — whether they come to us at one of our 900+ stores or are one of the millions who shop with us online each year,” a spokesperson said at the time.
According to Reuters, Arnal reportedly sold 55,013 shares in the company last month for roughly $1.4 million.
CNN reported that Arnal was also at the forefront of a lawsuit with Gamestop chairman Ryan Cohen, in which the pair were being investigated for inflating the price of company stock.
As per Reuters, Bed Bath & Beyond revealed it was “in the early stages of evaluating the complaint, but based on current knowledge the company believes the claims are without merit.”
And now, just days after his tragic death, the cause has been announced.
And the reason is heartbreaking.
As per CNBC, the New York City Medical Examiner’s Office revealed his cause of death as suicide.
Sources told WNBC that his death came as a result of multiple blunt trauma and that he left no note behind before he jumped.
Our thoughts go out to his family and friends during this difficult time.
Rest in peace, Gustavo Arnal.