REUTERS
This week, Lance Armstrong stepped down as chairman of the LIVESTRONG charity organization, after Nike and other A-brand companies announced they were terminating their sponsorship contracts with the seven-time winner of the Tour de France on account that the cyclist had misled them about his doping.
But can the charity that Armstrong created to support the fight against cancer, with its ubiquitous yellow bracelets and famous logo, withstand its founder’s fall from grace?
Sandra Miniutti, vice president of marketing and CFO for Charity Navigator, said LIVESTRONG’s success story does not end with Lance’s digressions. The circumstance is different than other celebrity charity scandals, she said, because the charity itself has had such success and transparency over the years.
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