Friday’s death of Bed Bath & Beyond’s CEO, which was confirmed Sunday by the retailer. creates another crisis for the company.
Friday’s death of Bed Bath & Beyond’s CFO, which was confirmed Sunday by the retailer, creates another crisis situation for the company.
“The chief financial officer fell to his death from New York’s Tribeca skyscraper known as the ‘Jenga’ tower on Friday afternoon,”Reuters reported.
“The death of Gustavo Arnal, 52,…comes days after the retail chain announced it would close about 150 of its more than 700 namesake stores and lay off about 20% of its 32,000 employees after its stock fell more than 21% last Wednesday, and 65% in the past year, according to The Associated Press,” NBC News said.
“The home-goods seller is attempting to trim costs and raise money as it tires to correct recent operating missteps and navigate a challenging economic environment. t hasbeen burning through cash reserves for several quarters, and a shopper exodus has shaken investor and vendor confidence,” according to the Wall Street Journal.
« I wish to extend our sincerest condolences to Gustavo’s family. 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, » said Harriet Edelman, the independent chair of the Bed Bath & Beyond Inc.
