American businessman and top executive Gustavo Arnal was well-known for serving as Bed Bath & Beyond’s executive vice president and chief financial officer.
On September 2, 2022, he passed away at the age of 52. According to MarketBeat.com, he sold more than 42,000 shares of the business, which was sometimes referred to as a “meme stock,” for USD $1 million a little more than two weeks ago. A little under USD 6.5 million worth of the company’s 267,896 shares were his to hold. That moment,
Gustavo Arnal’s Net Worth
Gustavo Arnal’s estimated net worth was $6.5 million. Mr. Arnal has sold over 1,403,932 worth of Bed, Bath & Beyond stock over the past three years, leaving him with over 55,013 units of BBBY stock valued at over $2,204,067. He also earns $1,910,024 from his position as Exec. VP & CFO at Bed, Bath & Beyond.
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Career Highlight for Gustavo Arnal
Proctor & Gamble, where Gustavo Arnal began his career, employed him for 20 years in a variety of capacities. He served as Sau Paulo Region’s CFO in Brazil in 1997. He spent seven years working there before moving to Cincinnati, Ohio, where he served for two years.
The Global Finance Manager for Personal Beauty employed him in the same company in 2007. The next year, he traveled to Geneva, Switzerland, for the Global Fabric and Home Center.
Up until 2017, when he ultimately decided to leave and look for other chances, he kept working for the same Swiss company. In July of that same year, he moved to London and started working for a pharmaceutical firm called Walgreens Boots Alliance, where he was employed in the worldwide function and foreign divisions.
He moved to Avon near the end of 2018 when he took his last position at Bedbath and worked there for more than two years. There have been claims that Gustavo was terminated prior to his passing, however, these are now merely hearsay.
Mr. Arnal graduated with a bachelor’s in mechanical engineering from Universidad Simon Bolivar and a master’s in finance from Metropolitan University.
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Bed, Bath & Beyond Insider Trading
Insiders at Bed, Bath & Beyond have purchased 320,713 units totaling $6,001,888 during the past 19 years, trading over $576,038,975 in stock.
Dean S. Adler, Warren Eisenberg, and Leonard Feinstein are some of the most active insider traders. Executives and independent directors of Bed, Bath & Beyond trade stock every 35 days on average, with each transaction valuing an average of $1,260,783.
Gustavo Arnal made the most recent stock transaction on August 16, 2022, exchanging 55,013 units of BBBY stock for $1,403,932.
Gustavo Arnal’s spouse
The married Gustavo Arnal. Alexander Cadenas-Arnal is the name of his wife. For 28 years, they were wed. They had two daughters together.
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Gustavo Arnal’s Death
Gustavo Arnal served as the CEO of Bed Bath & Beyond. In the United States, Canada, Mexico, and Puerto Rico, Bed Bath & Beyond is a domestic retailer with a large number of locations. After falling from a skyscraper, he died on Friday in Manhattan’s Tribeca neighborhood. 52 years old was Gustavo.
The business specified that his passing happened on Friday. The Jenga Building at 56 Leonard Street in Manhattan is where the 52-year-old male was discovered unconscious and with injuries, according to the New York City Police Department.
The New York City Medical Examiner’s Office will establish the cause of death for Arnal, who was declared dead at the site. An investigation is still ongoing, according to the police.
After working at Avon, Walgreens Boots Alliance, and Procter & Gamble, the executive of Venezuelan descent joined the firm in May 2020.
Everyone he worked with will remember Gustavo for his leadership, talent, and stewardship of our business. I’m happy to have worked with him, and I know that everyone at Bed Bath & Beyond and everyone he met will miss him. The company’s independent board chairwoman Harriet Edelman said in the statement.
Recent financial difficulties have plagued Bed Bath & Beyond. In just two weeks in August, its share price jumped from $5.77 to $23.08 per share. This brought back memories of what transpired with stocks designated as “memes” last year when troubled businesses temporarily rose to prominence as the darlings of independent traders.
The company said last Wednesday that, in an effort to recover from its financial setbacks, it will close 150 outlets and lay off 20% of its workforce.
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