Bed Bath & Beyond taps chief accounting officer as interim CFO after executive’s death

Business

In this article

Shoppers exit a Bed Bath & Beyond store in New York.
Michael Nagle | Bloomberg | Getty Images

Bed Bath & Beyond has tapped its chief accounting officer as interim CFO after its former executive died on Friday.

Laura Crossen is interim chief financial officer as of Monday, the company said in a regulatory filing. She will continue as the company’s principal accounting officer.

The company’s former CFO Gustavo Arnal fell to his death in New York City on Friday. The medical examiner later ruled the death a suicide.

Shares of Bed Bath & Beyond were down by about 15% early Tuesday as investors weighed the struggling retailer’s path forward. The company is looking for a new CEO after its board ousted Mark Tritton in June. It said last week that it would eliminate the jobs of chief operating officer and chief stores officer.

The home goods retailer is trying to revive its business as sales slow and it loses market share to competitors. As it prepares for the holiday season, Bed Bath & Beyond announced last week that it had secured more than $500 million in new funding and laid out a new plan to manage costs, including store closures and layoffs.

If you are having suicidal thoughts, contact the Suicide & Crisis Lifeline at 988 for support and assistance from a trained counselor.

This story is developing. Please check back for updates.

Products You May Like

Articles You May Like

Citigroup faulted by U.S. banking regulators for poor data management in ‘living will’ review
Holiday rush: Why investors may want to add retail ETFs to their cart
Musk says Twitter to launch ‘Verified’ service next week with a ‘gold check’ for companies
Black Friday online sales to hit new record, expected to top $9 billion
These are shaping up to be the best and worst luxury real estate markets for 2023

Leave a Reply

Your email address will not be published. Required fields are marked *