UNION, N.J. — Gustavo Arnal, the chief monetary officer of retail chain Mattress Tub & Past, has died, the corporate confirmed Sunday.
The corporate stated Arnal died on Friday.
Arnal died in what seemed to be a suicide, in response to the New York Police Division. He was discovered close to his residence, 56 Leonard Avenue, a skyscraper often called the Jenga constructing due to its stacked architectural design, and “appeared to undergo from accidents indicative from a fall from an elevated place,” police stated in a press release.
Emergency medical officers pronounced him useless on the scene, and the New York Metropolis Medical Examiner’s Workplace is working to find out how he died, the assertion stated. The New York Submit reported earlier on Arnal’s loss of life.
Arnal joined Mattress Tub & Past as its chief monetary officer in Could 2020 as a part of an govt shake-up led by the then-CEO, Mark Tritton, who left in June. Arnal was beforehand chief monetary officer at Avon and held senior positions at Walgreens Boots Alliance and at Procter & Gamble, the place he spent greater than 20 years of his profession.
“Gustavo can be remembered by all he labored with for his management, expertise and stewardship of our Firm. I'm proud to have been his colleague, and he can be actually missed by all of us at Mattress Tub & Past and everybody who had the pleasure of understanding him,” stated Harriet Edelman, unbiased chair of the corporate’s board, in Sunday’s assertion.
Mattress Tub & Past has confronted turbulence lately: Its shares made a monstrous run from $5.77 to $23.08 over slightly greater than two weeks in August, in buying and selling harking back to final yr’s meme-stock craze, when out-of-favor firms abruptly turned darlings of smaller-pocketed traders. On Wednesday, the corporate stated it will shutter shops and lay off employees in a bid to show round its beleaguered enterprise.
The house items retailer based mostly in Union, New Jersey, stated it is going to shut about 150 of its namesake shops and slash its workforce by 20%.
Arnal offered roughly 55,000 shares in Mattress Tub & Past on Aug. 16 and 17, as a part of a buying and selling plan he had signed in April. In August, Mattress Tub & Past disclosed in a regulatory submitting that Arnal and the retailer have been being sued by sure shareholders. The retailer stated it was within the “early phases of evaluating the criticism” however, based mostly on its present understanding, “believes the claims are with out advantage.”
The New York Occasions Information Service contributed to this report.