A high-powered chief executive plunged to his death from the 18th floor of a famous tower after his company recorded record losses.
Gustavo Arnal, Chief Financial Officer of Bed Bath & Beyond, took his life from the 18th floor of the famous 'Jenga' tower in lower Manhattan's Tribeca neighbourhood, New York City, on Friday.
The American retail chain had been hugely struggling following the aftershocks of Covid-19 with high inflation and a sinking economy.
The company announced plans to close 150 stores, of its roughly 900, and sack 20 percent of staff just two days before Mr Arnal's death.
The announcement cause the business to lose nearly a quarter of its on Wednesday.
He reportedly sold over 42,000 shares in the company for $1million just over two weeks ago, according to MarketBeat.com.
But at the time of his death he still owned around $6.5million in shares.
Mr Arnal had only been with the company for two years and previously held the same role at British cosmetics giant Avon and had a 20-year career working overseas leading Procter & Gamble.
Emergency service calls regarding someone jumping at 56 Leonard Street were recorded at around 12:30pm according to a spokeswoman for the New York Police Department.
Beth, Bath & Beyond said it had secured $500 million in new financing but shares continued to plunge and fell as much as 25 percent in one mornings trading.
When Mr Arnal joined Bed, Bath & Beyond in April 2020 a company spokesman said in a statement they were "bringing in world class talent to offer new perspectives, expertise and experience as we rebuild our business.
"Gustavo exemplifies this and his experience delivering business transformation at other leading companies, his deep knowledge of the retail and consumer goods space, as well as his energy and drive will help accelerate our transformation plans."
He held an undergraduate degree in Mechanical Engineering from the Universidad Simon Bolivar in Colombia, and a master’s degree in Finance from the Universidad Metropolitana in Venezuela..
National Association of State Emergency Medical Services Officials were seen carrying the man's body in a black body bag. The building has 57 floors and is 243 metres high.
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