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Finance and Revenue

Livestrong Shifts to Lower Gear Without Armstrong

May 6, 2016

After changing its name to distance itself from its disgraced founder, cyclist Lance Armstrong, the Livestrong foundation has suffered three consecutive years of revenue decline, USA Today writes.

The nonprofit, which offers programs that assist people who have been diagnosed with cancer, has also seen two chief executives depart since the Armstrong scandal. Livestrong has declined Mr. Armstrong’s request to “gave back” his name and still owns the rights to “Lance Armstrong Foundation.” Without a celebrity at the helm, the charity has had to rethink its strategy for raising money and shrink its operations, according to USA Today.