Bed Bath & Beyond CFO: Gustavo Arnal Wife – Officials reported that the chief financial officer of Bed Bath & Beyond passed away after falling from a Manhattan tower.
An unconscious person was discovered Friday around 12:30 p.m. near a building, according to a New York Police Department statement. The individual was pronounced not alive at the site by responding emergency personnel.
In May 2020, Arnal began working for the shop as it dealt with the coronavirus outbreak. He formerly worked with Procter & Gamble Co., Walgreens Boots Alliance Inc., and Avon Products Inc.
Bed Bath & Beyond CFO: Gustavo Arnal Wife – Is He Married?
Gustavo Arnal’s wife has decided not to speak to the media regarding the topic after her husband passed away. It is known that Gustavo and his wife are parents to children but have always kept their personal lives away from the media.
It’s believed that Gustavo and his wife lived in their New York apartment. Many had speculated that his wife might have known the problem her husband was going through before he decided to take his own life.
It is hard to imagine what Gustavo felt during his last days at this job, as he was completely alone and was probably waiting for the sacking. As a man who used to live in luxury, Gustavo probably thought he would not be able to afford his opulent lifestyle, which made him make such a rash decision.
Gustavo was accustomed to living in luxury, so he likely believed he wouldn’t be able to maintain his extravagant way of life, which led him to make such a hasty choice.
Who Is Gustavo Arnal? Wikipedia
Gustavo Arnal was the Executive Vice President and CFO at Bed Bath & Beyond. Gustavo had actively worked in the position of CFO for many top companies in the past decade including Procter and Gamble and Avon.
Gustavo graduated from the Metropolitan University in 1997 with a master’s degree in Finance. He further challenged himself and succeeded in completing his higher degree from The Wharton School of the University of Pennsylvania.
Gustavo was currently working for the company Bed Bath & Beyond since 2020. When Gustavo was hired in April 2020, the company spokesman said that they were bringing one of the best people for the job.
The spokesman further stated that with Gustavo’s 20 years of experience and expertise in the field the company could rebuild its brand under him.
Arnal and his deep knowledge in the field of the retail and consumer goods space were admired by the company which led them to hire him in the first place.
Though hired with lots of promises by Bed Bath & Beyond Gustavo failed to live up to his reputation and jumped to his death from the Tribeca skyscraper.
The company was making losses and was cutting its cost and was struggling due to high inflation and a sagging economy. The company had announced to close 150 stores and lay off 20% of its staff.
Gustavo Arnal’s Age
At the time of his death on September 2, 2022, Gustavo Arnal was 52. A man who had completed his undergraduate degree in Mechanical Engineering from Simon Bolivar University seemingly decided to pursue his path in the finance sector.
With the company facing a turbulent time it was no doubt that Gustavo faced a lot of scrutiny for his work and was brought in 2020 to change the outlook of the company.
In his 20 years of career, this was the first time Arnal was going through a situation where he was helpless. Before working at Bed Bath & Beyond, Gustavo had done a fabulous job at the beauty company Avon.
The billion-dollar company hired Gustavo in 2018 and experienced good growth under him before he moved on for bigger opportunities at Bed Bath & Beyond.
Gustavo Arnal Net Worth In 2022
Gustavo Arnal’s net worth was roughly $6.05 million as of the time of writing. Gustavo Arnal’s net worth is unquestionably in the millions due to his 20 years of banking experience and high-level positions at some of the largest corporations.
Approximately the past three years, Gustavo sold his stake in Bed Bath & Beyond for more than a million dollars. He possessed over 55,013 shares of the retailer.
A multimillionaire, Bed Bath & Beyond’s CFO just sold his shares for $1 million, according to Avon worldwide. Arnal also received a $1.9 million compensation from Bed Bath & Beyond as executive vice president and CFO.
He earned more than $2.9 million in pay in 2021, including $775,000 in bonus.
Gustavo Arnal Career Highlight
Gustavo Arnal began his career at Proctor & Gamble, where he spent 20 years in various roles. He served as Brazil’s Sau Paulo Area’s CFO in 1997. He spent seven years working there before moving to Cincinnati, Ohio, where he served two years.
He worked for the same organization as the Global Finance Manager for Personal Beauty in 2007. He traveled to the Geneva region of Switzerland the following year for the Global Fabric and Home Center.
He worked for the same Swiss company up until 2017, at which point he finally decided to leave and look for new chances. In July of that year, Walgreens Boots Alliance, he joined a pharmaceutical firm in London, where he worked in the global function and international divisions.
He moved to Avon towards the end of 2018, where he took his last position at Bedbath and worked there for more than two years. There are reports that Gustavo was fired before his passing, but for the time being, they are just—rumors.
Mr. Arnal graduated from the Universidad Simon Bolivar with a bachelor’s degree in mechanical engineering and the Metropolitan University with a master’s degree in finance.
Why Did Gustavo Arnal Jump From 18th Floor of Tribeca Building?
On September 2, 2022, Gustavo Arnal decided to end his life as he jumped to his death from the new Tribeca Building. Arnal plunges from the 18th floor of the apartment purposely designed misaligned apartment.
On August 16, 2022, Arnal sold 42,513 shares of his company stock for $1 million as reported by MarketBeats.com.
The company Bed Bath & Beyond had been facing a turbulent start to the year.
With its CEO Mark Tritton fired in June as the sales plunged 25% in the first quarter and the company closing down 150 of its stores, it looked like Gustavo Arnal’s job was on the line.
Many people are bewildered by Gustavo’s actions. His company might have been at loss but the man himself was a multi-millionaire. Some have mentioned that Gustavo might have been in debt up to the ears which prompted to take him action.
Others have hinted that it could be personal life woes that made the CFO jump off the building.
