Mr. Arnal died in what appeared to be a suicide, according to the New York Police Department. He was found near his residence, 56 Leonard Street, a skyscraper known as the Jenga Building because of its stacked architectural design, and “appeared to be suffering from injuries indicative of a fall from an elevated position,” police said in a statement. Emergency medical officers pronounced him dead at the scene, and the New York City Medical Examiner’s Office is working to determine exactly how he died, the statement said. The New York Post earlier reported Mr. Arnal’s death. Mr. Arnal joined Bed Bath & Beyond as its chief financial officer in May 2020 as part of an executive shakeup led by then-CEO Mark Tritton, who left in June. Mr. Arnal was previously CFO at Avon and held senior positions at Walgreens Boots Alliance and Procter & Gamble, where he spent more than 20 years of his career. Mr. Arnal spoke to Bed Bath & Beyond investors on Wednesday, giving them updates on the company’s finances and delivering tough news about the impact of the latest recovery efforts. The retailer said it had begun the process of closing 150 stores and would lay off 20% of its workforce at its corporate offices and across its supply chain operations. The store closings will also affect the jobs of retail associates, the company said. Although he had only been at Bed Bath & Beyond for two years, Mr. Arnal provided apparent continuity in the retailer’s ranks as several top executives had left, including the chief executive, managing director and head of stores. The retailer has come under enormous pressure in recent years as it has worked to quickly build its supply chain and operations while dealing with the business pressures of the pandemic and two rounds of activist investors. Last week it announced it had secured a loan from investment firm Sixth Street to boost its liquidity. The company has also been at the center of a choppy few weeks of trading, in part due to a legion of dedicated individual investors. Shares of the retailer soared on August 16, buoyed by disclosures from activist investor Ryan Cohen. they plummeted shortly after when he revealed that he had completely sold off the company. Mr. Arnal sold about 55,000 shares of Bed Bath & Beyond on Aug. 16 and 17 as part of a trading plan he signed in April. In August, Bed Bath & Beyond disclosed in a regulatory filing that Mr Arnal and the retailer had been sued by some shareholders. The retailer said it was in the “early stages of evaluating the complaint” but, based on its current understanding, “believes the claims are unfounded.” Bed Bath & Beyond issued a statement on Sunday about Mr Arnal’s death, saying it was “deeply saddened by this shocking loss”. “Our focus is on supporting his family and team and our thoughts are with them at this sad and difficult time,” the company said. If you are having suicidal thoughts, call the National Suicide Prevention Lifeline at 1-800-273-8255 (TALK) or go to SpeakingOfSuicide.com/resources for a list of additional resources. Kashmir Hill and Ashley Southall contributed reporting.
