Doug Ulman, the CEO of Livestrong, is leaving his post in January to become president and CEO of Pelotonia, a Columbus, Ohio charity bike ride which raises money for cancer research.
Ulman, who spent 14 years at Livestrong and helped grow the charity into a $500 million global brand before it was rocked by founder Lance Armstrong’s cheating revelations that prompted sponsors and donors to abandon it. Livestrong’s 2013 financial reports showed a 34 percent drop in donations and a 38 percent dive in total revenue after commercial sponsorships were canceled or not renewed.
Armstrong founded Livestrong in 1997 and it rode his star power to sell more than 80 million yellow Livestrong wristbands around the globe. But when Armstrong confessed to doping and was stripped of his Tour de France titles and banned from cycling, many corporate sponsors and partners, such as Nike and Dick’s either canceled contracts or didn’t renew.