John Waldron Holaday, the Sanford CEO who was shot in uptown Charlotte as he walked to a business meeting, died Saturday at Carolinas Medical Center, CMPD confirmed.

The suspect, Raheem Shacklette, 16, was charged with murder.

Holaday, 74, was cofounder of DisposeRx, which makes packages used to safely dispose of prescription medications.

On its website, the company called Holaday an “innocent victim.” Police say he was struck by a bullet fired by a Georgia teen who, minutes earlier, had engaged in a fight with other young males. Holaday was not the intended target.

“Words cannot describe the immense sadness and grief we feel in losing our leader, mentor, colleague and friend,” DisposeRx President William Simpson said in the statement. “While we will continue to struggle with the senseless and tragic way in which John died, we will honor him every day in the way that we operate and represent DisposeRx. We are more committed than ever to fulfilling his dreams.”

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Founder and publisher of Qcitymetro, Glenn has worked at newspapers including the Los Angeles Times, St. Petersburg (Fla.) Times, Philadelphia Inquirer, Wall Street Journal and The Charlotte Observer.