Los Angeles Business Journal

Armstrong Dropped by Nike, Steps Down as Livestrong Chairman

Wednesday, October 17, 2012

Lance Armstrong has been dropped by Nike Inc. and stepped down as chairman of the cancer foundation he founded, one week after the U.S. Anti-Doping Agency detailed his alleged use of performance-enhancing substances, Bloomberg News reports. In its analysis, Forbes notes that it wasn’t so long ago that every red-blooded man and woman sported a yellow wristband with the word “Livestrong” in relief.