Lance Armstrong is a professional road racing cyclist that won the Tour de France seven consecutive times between 1999 and 2005. After surviving cancer, Armstrong created the Livestrong charity. However Mr. Armstrong is in the midst of a doping scandal so he is stepping down as the chair of the Livestrong foundation.
One of the signature accessories that the Livestrong foundation created are yellow wristbands. Armstrong will remain on the 15-person board of directors, but Jeff Garvey will become the chairman of the foundation.
?This organization, its mission and its supporters are incredibly dear to my heart ? Today therefore, to spare the foundation any negative effects as a result of controversy surrounding my cycling career, I will conclude my chairmanship,? said Mr. Armstrong.