Chicago Police Superintendent Garry McCarthy outside the downtown high-rise office building where the shooting occurred. (M. Spencer Green/AP)

A worker who had been demoted shot his company’s chief executive in the company’s downtown Chicago offices Thursday before shooting himself, police said.

The chief executive was in “grave condition” after being shot in the stomach and head, Garry F. McCarthy, the police superintendent, told reporters at a news conference Thursday.

Police, who did not identify the worker or the chief executive, were called to the scene shortly after 9:50 a.m. The worker involved was called to the office on the 17th floor of a Chicago high-rise to meet with the chief executive, McCarthy said.

There were about 10 people on the same floor, although none of them were in the office when this occurred.

McCarthy called it “an isolated workplace incident based on a demotion,” which in turn related to overall downsizing at the company. He said he did not see this as a security issue.

The shooting occurred at the intersection of South LaSalle Street and West Jackson Boulevard in downtown Chicago, the Chicago Tribune reported. This is a bustling part of the city, located near the Chicago Board of Trade, Willis (formerly Sears) Tower and other high-profile spots.