Lance Armstrong Resigns as Chairman of LiveStrong

Lance Armstrong announced today that he will resign as chairman of the LiveStrong charity. The athlete wrote on the organization's blog, "I have had the great honor of serving as this foundation's chairman for the last five years and its mission and success are my top priorities. Today therefore, to spare the foundation any negative effects as a result of controversy surrounding my cycling career, I will conclude my chairmanship."

Armstrong, a seven-time winner of the Tour de France, clinching the title consecutively betwen 1999 to 2005, was recently accused of using performance-enhancing drugs. In June, the 41-year-old was charged by the U.S. Anti-Doping Agency of using the drugs and in August they issued a lifetime ban which would prevent Armstrong from competition. The Agency also said they would strip him of all his titles. Armstrong soon announced he would no longer fight the charges.

In a recent statement on the matter, Armstrong commented, "In 1996, as my cancer treatment was drawing to an end, I created a foundation to serve people affected by cancer. It has been a great privilege to help grow it from a dream into an organization that today has served 2.5 million people and helped spur a cultural shift in how the world views cancer survivors. This organization, its mission and its supporters are incredibly dear to my heart."

The LiveStrong charity has raised nearly $500 million to support cancer patients. Armstrong confirmed that he will remain on the charity's board, while current vice chairman Jeff Garvey will assume the chairmanship.

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