Share This Article
Bed Bath & Beyond Inc shares are trading lower Tuesday following the passing of CFO Gustavo Arnal over the weekend of September 2nd, 2022. New York Police said Gustavo died after falling from his building in downtown Manhattan. Manhattan’s medical examiner later ruled the death a suicide.
Arnal joined Bed Bath & Beyond in May 2020, following a distinguished global career in finance at Avon, Walgreens, and Procter & Gamble.
Impact on the company finances
Bed Bath & Beyond has not yet released a statement on Arnal’s death, but it will likely impact the company’s finances. For one thing, Arnal was responsible for overseeing the company’s finances and was thus intimately familiar with Bed Bath & Beyond’s financial situation. His death will likely disrupt some of the company’s progress in turning around its business. In addition, Arnal’s family is likely to file a wrongful death lawsuit against the company, which could further strain Bed Bath & Beyond’s finances.
Potential legal problems for the company
Beyond the potential financial impact of Arnal’s death, it could also create legal problems for Bed Bath & Beyond. If it is determined that Arnal’s death was caused by Bed Bath & Beyond’s negligence—for example, if someone pushed him or if the building he fell from was not up to code—the company could be held liable in a wrongful death lawsuit. Such a lawsuit would be costly, time-consuming, and damaging to Bed Bath & Beyond’s reputation.
Why would a CEO’s or CFO’s death affect his company’s stock?
A CEO or CFO’s death can significantly impact a company’s stock, as investors may perceive it as a sign of instability. If the CEO was seen as key to the company’s success, their death could cause the stock to drop sharply. In the case of Bed Bath & Beyond, CFO Gustavo Arnal was responsible for overseeing the company’s finances and was thus intimately familiar with its financial situation. His death will likely disrupt some of the company’s progress in turning around its business. It could also lead to legal problems if it is determined that Bed Bath & Beyond was negligent in his death. As a result, Bed Bath & Beyond shares are trading lower following Arnal’s death.
The passing of CFO Gustavo Arnal is likely to have a significant impact on Bed Bath & Beyond Inc, both financially and legally. Investors should closely monitor the situation as it develops.