Livestrong Foundation Chief Executive Officer Doug Ulman told the Associated Press on Monday that he will leave the cancer organization after 14 years. He will exit Livestrong in January to become president and CEO of Pelotonia, an Ohio charity bike ride that raises money for cancer research.
Mr. Ulman presided over Austin, Texas-based Livestrong's growth into a $500-million global brand built on the sports success and celebrity of its founder, Lance Armstrong, and guided it through the fallout from revelations that the cycling champion used performance-enhancing drugs throughout his storied career. The foundation cut ties with Mr. Armstrong and saw donations and sponsorship revenue plummet after the rider confessed to cheating.
Mr. Ulman called the two years since the scandal broke "the most stressful period of my life, by a landslide" but said he is "so proud at what we've accomplished." Livestrong board Chairman Jeff Garvey said the foundation remains in solid financial shape, with $100-million in assets and a $30-million-plus endowment.