- Bed Bath & Beyond Inc BBBY has named Laura Crossen as interim Chief Financial Officer effective Monday, the Wall Street Journal reported.
- The move aims to reassure the investors who were worried about the debt-laden company’s prospects following its CFO Gustavo Arnal’s death by suicide.
- Crossen joined the company in 2001 and was recently working as its chief accounting officer.
- Arnal jumped to his death from a New York City building on Friday. Two days earlier, he had put forth the retailer’s restructuring plans, including job cuts and store closures.
- The company had recently seen the departure of its CEO Mark Tritton who was replaced after the company’s unimpressive earnings for two consecutive quarters.
- The stock was on a decline after activist investor Ryan Cohen exited his position Aug. 18 five months after opening it.
- The stock has been down about 50% since the beginning of 2022.
- Price Action: BBBY shares are trading lower by 14% at $7.43 on the last check Tuesday.
- Photo via Wikimedia Commons
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