Updated 07/31/14 – 2:07 p.m.
CHICAGO (CBS) — The CEO of a small technology firm in the Loop was critically wounded Thursday morning, when a disgruntled executive shot him in the head and stomach at the company’s office in the heart of the financial district. The gunman then took his own life.READ MORE: Lifeguard Rescues Child From Drowning In Community Pool In Palatine
The shooting happened around 9:50 a.m., at ArrowStream, located on the 17th floor of the Bank of America Building at 231 S. LaSalle St., which is right across the street from the Board of Trade and the Federal Reserve Bank of Chicago.
Police Supt. Garry McCarthy said the company recently underwent downsizing, and some employees had been demoted last week. One of those employees — who sources identified as 59-year-old Anthony DeFrances — came in Thursday morning and demanded a one-on-one meeting with the CEO, 54-year-old Steven LaVoie of west suburban La Grange.
During that meeting, DeFrances pulled out a gun. He and LaVoie apparently struggled for control of the weapon before LaVoie was shot twice — once in the head, and once in the stomach. DeFrances then took his own life.
“Apparently he was despondent over the fact that he got demoted,” McCarthy said.
The superintendent said the building does have security, but he said there’s no reason they would have searched the employee for a gun.
“He’s apparently a longtime employee, who comes in with a backpack like an employee normally does,” he said. “I can’t see how this could have been a security issue. This is basically a personal thing, and unfortunately it’s turning out this way.”
LaVoie was taken to Northwestern Memorial Hospital, where he was listed in critical condition Thursday afternoon and underwent surgery.
According to ArrowStream’s website, LaVoie founded the firm in 2000, and earned his master’s degree from Yale, and his bachelor’s degree from the University of California, Berkeley. He has a wife, Jody, and three daughters.READ MORE: Yasmin Perez Has Died, Days After Gruesome Humboldt Park Shooting That Also Killed Her Boyfriend, Gyovanni Arzuaga
DeFrances was the company’s Chief Technology Officer, and had been with the company “virtually since its inception,” according to an online biography. He received two master’s degrees from the University of Dayton, according to the company’s website. He has a wife, Eileen, and three children.