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Shares of Bed Bath & Beyond fell nearly 20% on the first day of trading following the suicide of its CFO Gustavo Arnal.
The homeware company has appointed Accounting Manager Laura Crossen as interim CFO after Arnal’s death from the 18th floor of a New York skyscraper.
“Bed Bath & Beyond is in a difficult financial position, without a permanent CEO, and another leadership gap makes it harder to stay focused on execution,” said Cristina Fernandez, analyst at Telsey Advisory Group, attributing the decline in title to Arnal’s death.