A worker who was recently demoted came into the 17th floor of the Bank of America building in Chicago's financial district and shot his company's CEO, before turning the gun on himself Thursday. The CEO was critically injured and the shooter died on the scene.

Police responded to the incident and found two unreponsive bodies, both with gunshot wounds to the head, police Superintendent Garry McCarthy said.

ArrowStream CEO Steven LaVoie was identified as the victim. He was also shot in the stomach. He is currently at Northwestern Hospital where he is listed in critical condition.

The gunman was identified by the Cook County Medical Medical Examiner's Office as Anthony DeFrances, 60, of Barrington, Illinois. Barrington is the same wealthy suburb that LaVoie lives in.

DeFrances held the position of chief technology officer but was recently demoted. Police say he was angered at the demotion.

"What we have here is a workplace violence issue," McCarthy told reporters. "Apparently there's a technological company on the 17th floor. They've been undergoing a downsizing. They've demoted a number of people."

Police are trying to determine if the case was a posible murder-suicide plan.

McCarthy said that DeFrances pulled the gun on LaVoie and the two struggled at first. DeFrances then shot LaVoie twice before turning the gun on himself.

George Volland got to know LaVoie as they both commuted from Barrington and into the city.

"He was in on the early train and out on the late train. This was a good guy. I just want people to know he was not a monster. I hope he makes it," Volland said.

The Bank of America building is just two blocks away from the Willis Tower.

A worker who works for a company that has offices on the 5th and 16th floor of the Bank America Building knew something was wrong when the fire alarm was activated. A message to remain in place was played over the loudspeaker.

Tenants and workers were informed by e-mail that an incident had occurred. At the time, the investigation was not complete and it was just reported as an unspecified incident. About an hour later, they were given an all clear e-mail.

"Ten witnesses up there who were on the floor are being interviewed," McCarthy said. No one was actually inside the room when the shooting occurred, he said.