steven lavoieThe Chairman and CEO of Arrow Stream is said to be in grave condition in a Chicago hospital after he was shot by an employee he had demoted.

Chicago police responding to an emergency call in the company’s corporate offices at 231 S. LaSalle Street around 9:00 a.m. Wednesday, found Steven LaVoie suffering from two gunshot wounds, one to the head and another to the stomach.

They also found another employee, believed to have been chief technology officer Anthony DeFrances, suffering from a self-inflicted gunshot wound.

Fifty-four year old LaVoie was rushed to Northwestern Memorial Hospital, where as of press time doctors said he was in “grave condition.”

DeFrances , who had been with the company since its inception, died from his injuries.

Reports say LaVoie, who founded the company which provides supply chain management solutions for the food service industry in 2000, had recently demoted the suspect.

DeFrances leaves behind his wife, Eileen and their three children.

LaVoie is married and has three children.