The man who jumped from the 18th floor of Jinja Tower in Manhattan, New York on September 2

That man was Gustavo Arnal the Chief Financial Officer of Bed Bath & Beyond

The jump came at about 12:30 p.m. on September 2, according to the New York Police Department

The incident came just two days after the company announced plans to close 150 of its nearly 900 stores and lay off 20 percent of its workforce

Arnal reportedly sold more than 42,000 shares in the company, often referred to as "meme shares," for US$1 million

Arnal reportedly sold more than 42,000 shares in the company, often referred to as "meme shares," for US$1 million

Arnal joined Bed Bath & Beyond in 2020 when the company was already struggling due to the COVID-19 pandemic

Arnal's expertise in delivering business transformation in leading companies

Arnal's knowledge of consumer goods and retail space as well as his leadership and energy will help accelerate his transformation plans

Bed Bath & Beyond has seen its fortunes decline recently, with CEO Mark Triton fired in June after the company's first-quarter sales fell 25%