Steven LaVoie, the CEO of ArrowStream, Inc., a supply chain technology provider, died yesterday in Chicago from injuries sustained when he was shot July 31 by a disgruntled employee, has died. He was 54.
LaVoie was shot near his office in Chicago's Loop district by Anthony DeFrances, a long-time company executive who had recently been demoted from a top IT position.* After wounding LeVoie, DeFrances killed himself. DeFrances was hired by ArrowStream at the time of the company's founding in 2000.
LaVoie passed away at LaGrange Hospital in LaGrange, Ill., where he and his family lived.
In a letter on the Caring Bridge website, his wife, Jody LaVoie, wrote: "I am writing to let you know that Steve's body has succumbed to his numerous injuries. I had truly hoped to tell a different story now about his recovery, and for so long I believed he would be with us again. But know that the man you all remember so dearly, fought so bravely. Steve brought great dignity and beauty to all of our lives these past months."
For a while, it appeared that LaVoie had been improving. However, over the past weeks there had been virtually no information from the company about his condition.
ArrowStream provides software-as-a-service (SAAS) solutions to manufacturers, distributors, and food service companies. One of its most successful products, "Crossbow," is designed to optimize a company's inbound freight program by establishing and facilitating collaborative decision-making between a company's purchasing and logistics departments. Crossbow is not a transportation management system or a purchasing system. It is a unique, patented approach that complements both systems.
*Editor's note: A previous version of this article stated that DeFrances was demoted due to downsizing at ArrowStream. ArrowStream says that there was no downsizing at the company.