The company announced on Sunday that Gustavo Arnal was recruited by Bed Bath & Beyond in May 2020 and acknowledged for his contributions in guiding the New Jersey-based retail powerhouse during the peak of the COVID-19 crisis.
On Sunday, the executive vice president and chief financial officer of the company, who has a distinguished global career in finance, joined the team along with several other reputable businesses.
As reported by the Business Courier, prior to his role at Walgreens Boots Alliance, he held the position of senior vice president and CFO for international divisions and global functions. The Cincinnati Business Courier states that he then assumed the role of executive vice president and CFO in spring 2019, having previously worked at the cosmetic company Avon.
Both of those performances were located in London.
However, the majority of his career was spent at Procter & Gamble, where he held various positions and worked with well-known brands such as Tide detergent and Pringles potato chips for a period of 20 years.
The Cleveland Business Journal stated in May 2020 that the spouse and male parent of two grown-up daughters served as the Chief Financial Officer (CFO) for the company’s India, Middle East, and Africa division, supervising activities across over 50 nations.
According to the Cleveland Business Journal, Arnal stated that upon being announced as Bed Bath & Beyond’s latest addition, the company had to construct “upon the sturdy underpinnings of this enterprise with a fresh, resilient, and enduring business structure.”
He also purportedly mentioned that he anticipated being a “stimulant for the cultural and monetary transformation in the industry.”
Following a declaration regarding its reorganization, which occurred shortly before his passing, the company specializing in household items has faced significant challenges as of late and is anticipated to shut down 150 stores while dismissing 20% of its employees.
Arna was also included in a recent lawsuit where Cohen Ryan, the founder of Chewy.Com, accuses him of artificially inflating the share price of other retail companies.
The collective lawsuit was submitted on August 23 in Washington, DC.
“The company’s board of directors chairman, Harriet Edelman, expressed a request for everyone to honor the family’s privacy,” stated in a portion of a statement on Sunday regarding the unexpected passing. “Our main objective is to provide support to his family and his team, and our sympathies are with them throughout this sorrowful and challenging period.”