Bed Bath & Beyond Falls 16% After Naming Interim CFO
Bed Bath & Beyond (NASDAQ: BBBY) this morning has named an interim chief financial officer, while also confirming the passing of its former CFO Gustavo Arnal. Arnal passed away on Friday.
Arnal’s passing was highly publicized, given the nature of his death. As per the New York Post‘s initial reporting, Arnal jumped from the 18th floor of a Manhattan office building.
Taking on the CFO role on an interim basis will be Laura Crossen, whom is currently the Senior VP of Finance, as well as the Chief Accounting Officer of the firm. Crossen is expected to continue as the firms CAO, while at the same time serving as the chief financing officer on an interim basis.
In connection with the appointment, Crossen will receive a bump in her base salary of $200,000, while her target annual bonus will increase to 70% of her base salary. The increases are expected to only be in place while she is serving in the role on an interim basis.
The company has not yet indicated whether the search for a permanent replacement is underway at this time.
Bed Bath & Beyond last traded at $7.24 on the Nasdaq.
Information for this briefing was found via the New York Post and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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