Armstrong Steps Down; Livestrong Will Go On
The Armstrong controversy has also led Nike Inc. to pull back. Photo courtesy flickr.com/techbirmingham/The Austin-based Livestrong Foundation says it will continue to focus on its mission of supporting cancer survivors and research as Lance Armstrong steps down as the non-profit’s chairman.
Armstrong has been the target of a years-long investigation into allegations that he used performance-enhancing drugs during his time as a professional cyclist. The U.S. Anti-Doping Agency laid out the case against Armstrong last week.
Livestrong CEO Doug Ulman said today that Armstrong called him on Monday about stepping down as chairman.
“He asked me what I thought, and it led to a series of conversations, but this was his decision and one that he spent a lot of time thinking about,” Ulman said.
Nike Inc. said today that it is ending its relationship with Armstrong. Anheuser-Busch Cos. also said today it would cut ties with Armstrong when their contract expires.
