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"Former competitive cyclist Lance Armstrong announced Wednesday morning that he will be stepping down as the chairman of the Lance Armstrong Foundation, also known as LIVESTRONG. Armstrong, who founded the charity in 1997 and has helped raise approximately $500 million for cancer research since then, will remain on the board of directors. While the controversial step-down comes as the evidence of Armstrong&amp;#039;s use of performance-enhancing drugs continues to build, it seems that Armstrong has decided to relinquish his post on his own accord. The news comes just weeks after the US Anti-Doping Agency released a 200-page report chronicling more than a thousand pages of evidence which proved Armstrong&amp;#039;s use of sophisticated doping techniques while competing. Even after he was stripped of his seven winning titles from the Tour de France and banned from the sport of cycling, Armstrong&amp;#039;s reputation continues to suffer. Just minutes after the announcement of his resignation, Nike Inc. decided to end their endorsement deal worth millions with the cycling star. Although Nike has terminated their contract with Armstrong, they will continue to support his popular charity since the brand is Livestrong&amp;#039;s most important corporate partner. Radio Shack, a well-known electronics retailer, also acknowledged the end of their corporate partnership with Armstrong, who served as a sponsor since 2009. Radio Shack declined to specify the end date of the sponsorship deal, but did express pride over their collaboration with Livestrong, which raised over $16 million for cancer research. "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.womansday.com/life/news/a47497/armstrong-resigns-from-livestrong-cancer-charity/?src=syn&dom=yah_buzz&mag=wdy&ha=1&kw=ist>