Knoxville, TN (WOKI) A longtime business leader in Knoxville has passed away.

Bill Baxter, the CEO of Holston Gas, passed away on Sunday; he was 71.

The Wort Hotel, a historic hotel in Jackson, Wyoming which Baxter owned, made the announcement on Sunday.

Baxter was also chairman of the Tennessee Valley Authority board and economic development commissioner for the state of Tennessee.

TVA officials said on Tuesday they were saddened to hear of Baxter’s passing.

Baxter was a graduate of Central High School in Knoxville.