- The chief monetary officer of Mattress Tub & Past, Gustavo Arnal, died final Friday.
- The Wall Avenue Journal reported that the corporate’s CEO and a few board members have been involved concerning the CFO.
- The Journal, citing unnamed sources, mentioned Arnal was harassed and had been discussing taking day off.
The interim CEO and board members inside Mattress Tub & Past had considerations concerning the wellbeing of the chief monetary officer earlier than his demise final week, The Wall Street Journal reported Wednesday, citing unnamed sources conversant in the subject.
CFO Gustavo Arnal died final Friday after falling from a New York Metropolis constructing, simply days after the retailer introduced it might shut down 150 of its shops and let a portion of its workforce go, Insider previously reported. The town’s medical examiner ruled that he died by suicide.
Arnal has since been replaced by Laura Crossen, who labored as the corporate’s senior vp of finance and chief accounting officer.
The sources mentioned that Sue Gove, the interim chief government officer, and several other board members agreed that Arnal had been overwhelmed. Nonetheless, they opted to not change him whereas the corporate was attempting to safe financing.
The Journal additionally reported that Arnal had mentioned taking a break and that the dialog could be picked up after the Labor Day vacation weekend.
Buddies of Arnal informed the Journal that he had been harassed at work, working as much as 18 hours a day.
“I might see the stress on him,” Jan Zijderveld, the previous chief government of Avon Merchandise, informed The Journal. Zijderveld ate dinner with Arnal and Arnal’s spouse lower than two months previous to his demise.
“He is the kind of man who carries the world on his shoulders,” Zijderveld mentioned, including that Arnal had a constructive perspective and selected to not disclose particulars about work.
Earlier than his demise, Arnal was named as a defendant — with Mattress Tub & Past, activist investor and GameStop Chairman Ryan Cohen, and JPMorgan — in a lawsuit seeking class-action status on August 23. The plaintiff, Pengcheng Si, accused them of securities fraud, insider buying and selling, and breach of fiduciary responsibility.
Although, sources conversant in the matter informed The Journal information present that Arnal and Cohen didn’t have contact outdoors of convention calls with a number of executives. Cohen has not commented on the lawsuit.
Arnal had labored on the firm since 2020, simply after the corporate’s income began shrinking in 2019 because of the uptick in on-line purchasing. He beforehand labored at Procter & Gamble and Avon.