The CEO of UnitedHealthcare was shot and killed in midtown Manhattan on Wednesday morning, a law enforcement official tells CNN.

Brian Thompson was walking toward the New York Hilton Hotel in Midtown Manhattan, dressed in a suit and tie, to attend UnitedHealthcare’s annual investor conference being held in the ballroom.

A gunman, who investigators tell CNN was masked in the sub-freezing temperatures, waited for about 10 minutes before Thompson’s arrival, before opening fire from 20 feet away shooting multiple times, striking Thompson.

The gunman fled, cutting through an alleyway and hopping on to a bicycle, the official told CNN. Investigators are continuing to canvas the area. Police currently believe that the suspect fled into Central Park.

The 50-year-old executive was shot in the chest. Responding emergency workers took him to Mount Sinai West in critical condition, where he was pronounced dead, according to the NYPD.

“We are deeply saddened by this morning’s events in the area and our thoughts are with all affected by the tragedy. Additional questions should be directed to the New York Police Department,” a New York Hilton Midtown spokesperson told CNN.

Details on the circumstances are not immediately clear, but investigators say it appears to be a targeted shooting. No arrests have been made and the investigation is ongoing, the NYPD said. Police are expected to provide a briefing on the incident later this morning.

CNN has reached out to UnitedHealthcare for comment.

Thompson was named chief executive officer for UnitedHealthcare in April 2021. UnitedHealthcare is part of UnitedHealth Group, ranked fifth in the Fortune 500, according to the company.

UnitedHealthcare’s parent company, UnitedHealth Group, abruptly ended its scheduled conference Wednesday morning, citing “a very serious medical situation with one of our team members.” The company did not comment further.