![]() ![]() It also accused Cohen of making a false filing and manipulating the timing of disclosing the sale of most of his stock. “This (tragedy) just makes a difficult situation even worse.”Īrnal himself, who joined the company in May 2020 after holding senior executive jobs at Avon, Walgreens Boots Alliance and Procter & Gamble, was facing a lawsuit accusing him and activist investor Ryan Cohen of conspiring since March to boost the price of Bed Bath & Beyond shares and then dump the stock for a profit. “The underlying factors were bad before,” said Allen Adamson, co-founder of marketing consultancy Metaforce. ![]() ![]() The company also said last week it was considering selling more of its stock to shore up its finances and had lined up more than $500 million of new financing. The news of Arnal’s death landed just days after Bed Bath & Beyond said that it would close about 150 of its namesake stores and slash its workforce by 20% as it tries to fix its beleaguered business. The medical examiner’s office ruled Arnal’s death a suicide, and police said an investigation was underway. Business & Finance Click to expand menu.īed Bath & Beyond has named Chief Accounting Officer Laura Crossen as interim chief financial officer to replace Gustavo Arnal, whose death late last week adds to a cloud of financial uncertainty for the company and further complicates its plans for a turnaround.Īccording to the New York City Police Department, police found the 52-year-old Arnal unconscious with injuries showing he fell from the 57-story Jenga residential tower in Manhattan. ![]()
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