The guy who committed suicide by jumping from the eponymous new Tribeca skyscraper known as the “Jenga Building” has been identified as Gustavo Arnal, the chief financial officer of ailing Bed Bath & Beyond, The Post has discovered.
Gustavo Arnal committed suicide
According to police sources, 52-year-old Gustavo Arnal died on Friday after falling from the 18th floor of 56 Leonard Street while serving as executive vice president of the struggling home goods store.
The massive building has 1,252 square feet of space and offers views of the city skyline.
The building, which was finished in 2017, is the tallest one in Tribeca.
Bed Bath & Beyond CFO
Gustavo Arnal join Bed Bath & Beyond. He had a 20-year career working abroad leading Procter & Gamble before serving as chief financial officer for the multinational cosmetics company Avon, based in London.
According to InsiderTrades.com, he earned more than $2.9 million from Bed Bath & Beyond in 2021, with $775,000 coming from salary and the remainder coming through stock awards. Turbulence has recently plagued Bed Bath & Beyond.
How Gustavo Arnal death impact the Bed Bath & Beyond company?
His passing comes shortly after Bath & Beyond announced intentions to liquidate 150 locations and lay off staff in an effort to turn around the faltering company.
Twenty percent of employees across corporate and its supply chain, as well as “lower-producing” locations, are impacted by the change.
Bed Bath & Beyond stated in a recent conference call that it anticipates savings of around $250 million as a result of this decision.
It follows a quarter in which revenues decreased by nearly 25%.
Bed Bath & Beyond faces high loss currently
Following the company’s announcement of a restructure that includes store closings, layoffs, and a potential public offering on Wednesday, shares of the Union, New Jersey-based company dropped close to a quarter of their value.
The business said that it had secured more than $500 million in new funding and that 20% of its workers will be laid off. While keeping the buybuy BABY chain, it wants to shutter approximately 150 outlets bearing its own brand.
The co-founder Gustavo Arnal sold the share of Bed Bath & Beyond
After acquiring a 10% investment in the company only a few months prior and promising to make significant changes, billionaire co-founder of the online pet supplies shop Chewy Inc. Ryan Cohen sold his shares in Bed Bath & Beyond in the middle of August.
The “Jenga Building” has three terraces totaling 1,252 square feet with expansive views of the water and the city skyline, 19-foot ceilings, double-height windows, white wood and stone floors, a gas fireplace, and a chef’s kitchen.
Statement from director of Bed Bath & Beyond
His passing comes shortly after Bath & Beyond announced intentions to liquidate 150 locations and lay off staff in an effort to turn around the faltering company.
Twenty percent of employees across corporate and its supply chain, as well as “lower-producing” locations, are impacted by the change.
Bed Bath & Beyond stated in a recent conference call that it anticipates savings of around $250 million as a result of this decision. It follows a quarter in which revenues decreased by nearly 25%.
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