Lance Armstrong Steps Down As Livestrong Chairman

Lance Armstrong announced Tuesday (Oct. 17) that he would be stepping down from his foundation LIVESTRONG.

"In 1996, as my cancer treatment was drawing to an end, I created a foundation to serve people affected by cancer," says Armstrong, a cancer survivor himself. "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."

Vice Chairman Jeff Garvey will succeed Armstrong to spearhead the foundation. "Jeff's guidance and wisdom have been critical to shaping the foundation's work since its earliest days. Jeff was this organization's founding chairman and I have full confidence that under his leadership, the foundation will continue expanding its ability to serve cancer survivors."

LIVESTRONG President/CEO Doug Ulman says that over Armstrong's 15 years of work and dedication, the foundation has raised over $50 million for families affected by cancer. "Lance has made this foundation and its cause -- aiding people whose lives have been touched by this disease -- his life's work. His leadership in the cancer community has spurred immeasurable progress and it has been a great privilege to work shoulder to shoulder with him on a daily basis during his chairmanship."

For more information, visit LIVESTRONG's official website.