Bed Bath & Beyond board expresses ‘profound sadness’ after CFO dies by suicide

Yahoo Finance's Akiko Fujita discusses news that Bed Bath & Beyond CFO Gustavo Arnal has died just days after the company announced store closures and a turnaround plan.

Video Transcript

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- Well, let's turn our attention back to the markets. Bed Bath & Beyond continuing to be a big focus this morning, with the company naming Chief Accounting Officer Laura Crossen as interim chief financial officer following the death of Gustavo Arnal this weekend. The New York City medical examiner's office has now confirmed the former CFO died by suicide after jumping from a high rise in the Tribeca neighborhood where he lived.

Now, the company's board chairwoman released a statement publicly expressing what she described as "profound sadness" over Arnal's loss, adding, "Gustavo will be remembered by all he worked with for his leadership talent and stewardship of our company. Our focus is on supporting his family and his team right now."

Arnal's death came just days after the company announced it would be shutting 150 stores and slashing 20% of its staff. He was also named in a class action lawsuit accusing him and GameStop chairman Ryan Cohen of insider trading. That stock down today more than 13% or 14%. We'll be right back.