(CHICAGO) -- A gunman killed himself Thursday after shooting his boss in the Bank of America building in Chicago's financial district, authorities said.
The shooting took place shortly before 10 a.m. on the 17th floor of the building at 231 South LaSalle Street, police said.
The victim was Steven LaVoie, the CEO of ArrowStream, which the suspect also worked for, the company said. The suspect, identified by the Chicago Medical Examiner’s Office as Tony DeFrances, had been demoted last Friday, police said.
"We are deeply saddened and shocked by the events that have occurred today," ArrowStream said in a statement. "Our focus during this tragedy is to ensure the well being of our ArrowStream family. We want to assure our customers that our business continuity plan is in place, and our operations will continue to function normally."
LaVoie, who police said was 54, was taken to Northwestern University Hospital and was in critical condition after suffering a gunshot wound to the head.
The 59-year-old shooter, later identified as DeFrances, was confirmed dead at the scene, police said.
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