Armstrong quits as chief of Livestrong charity

Nike and Lance Armstonrg launches "Stages" March 7, 2009 in Hollywood, California. NEW: Nike ends contract with Armstrong over "seemingly insurmountable" doping evidence NEW: Armstrong says his decision to step aside was made to protect the charity The former pro cyclist resigns from chairmanship of the organization he founded in 1997 The Livestrong charity raises money for cancer research and awareness (CNN) -- Former pro cyclist Lance Armstrong will step down as chairman of the Livestrong cancer charity he founded in 1997 after recovering from the disease, organization spokeswoman Katherine McLane said Wednesday. The move comes the same day that Nike, a key Armstrong sponsor, announced it was ending its contract with Armstrong amid "seemingly insurmountable evidence" that he participating in doping. Armstrong said his decision was made to "spare the foundation any negative effects as a result of controversy surrounding my cycling career," according to a statement posted to the group's website. Last week, the U.S. Anti-Doping Agency said it had uncovered overwhelming evidence of Armstrong's involvement in a sophisticated doping program while a professional cyclist. Armstrong has consistently denied the claims. Seven-time Tour de France champion Lance Armstrong has denied numerous accusations of doping over the years. Look back at his record-setting career. Armstrong, 17, competes in the Jeep Triathlon Grand Prix in 1988. He became a professional triathlete at age 16 and joined the U.S. National Cycling Team two years later. In 1995, Armstrong wins the 18th stage of the Tour de France. He finished 36th overall and finished the race for the first time that year. Armstrong rides for charity in May 1998 at the Ikon Ride for the Roses to benefit the Lance Armstrong Foundation. He established the foundation to benefit cancer research after being diagnosed with testicular cancer in 1996. After treatment, he was declared cancer-free in February 1997. Armstrong takes his honor lap on the Champs-Élysées in Paris after winning the Tour de France for the first time in 1999. After winning the 2000 Tour de France, Armstrong holds his son Luke on his shoulders. Armstrong rides during the 18th stage of the 2001 Tour de France. He won the tour that year for the third consecutive time. Armstrong celebrates winning the 10th stage of the Tour de France in 2001. After winning the 2001 Tour de France, Armstrong presents President George W. Bush with a U.S. Postal Service yellow jersey and a replica of the bike he used to win the race. Armstrong celebrates on the podium after winning the Tour de France by 61 seconds in 2003. It was his fifth consecutive win. Jay Leno interviews Armstrong on "The Tonight Show" in 2003. After his six consecutive Tour de France win in 2004, Armstrong attends a celebration in his honor in front of the Texas State Capitol in Austin. Armstrong arrives at the 2005 American Music Awards in Los Angeles with his then-fiancee Sheryl Crow. The couple never made it down the aisle, splitting up the following year. Armstrong holds up a paper displaying the number seven at the start of the Tour de France in 2005. He went on to win his seventh consecutive victory. As a cancer survivor, Armstrong testifies during a Senate hearing in 2008 on Capitol Hill. The hearing focused on finding a cure for cancer in the 21st century. In 2009, Armstrong suffers a broken collarbone after falling during a race in Spain along with more than a dozen other riders. Young Armstrong fans write messages on the ground using yellow chalk ahead of the 2009 Tour de France. He came in third place that year. Armstrong launches the three-day Livestrong Global Cancer Summit in 2009 in Dublin, Ireland. The event was organized by his foundation. In May 2010, Armstrong crashes during the Amgen Tour of California and is taken to the hospital. That same day, he denied allegations of doping made by former teammate Floyd Landis. Ahead of what he said would be his last Tour de France, Armstrong gears up for the start of the race in 2010. Lance Armstrong looks back as he rides in a breakaway during the 2010 Tour de France. Armstrong finishes 23rd in the 2010 Tour de France. He announced his retirement from the world of professional cycling in February 2011. He said he wants to devote more time to his family and the fight against cancer. Armstrong's son Luke; twin daughters, Isabelle and Grace; and 1-year-old son, Max, stand outside the Radioshack team bus on a rest day during the 2010 Tour de France. The frame of Armstrong's bike is engraved with the names of his four children at the time and the Spanish word for five, "cinco." His fifth child, Olivia, was born in October 2010. In February 2012, Armstrong competes in the 70.3 Ironman Triathlon in Panama City. He went on to claim two Half Ironman triathlon titles by June. He got back into the sport after retiring from professional cycling. 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Hamilton: I doped for Lance Armstrong Attorney: Armstrong case a 'witch hunt' Nike said it would continue to support Livestrong initiatives. Founding chairman Jeff Garvey will take over for Armstrong, the Texas-based organization said. Read more: Nike ends contract with Lance Armstrong Armstrong said that he and his family would "continue our service to the foundation and the cancer community," but didn't specify in what role. Armstrong founded the charity after his own treatment for testicular cancer that had spread to his brain and lungs. He came back from the disease seemingly stronger than ever, winning the first of his seven Tour de France titles three years after he was diagnosed with cancer. His success became an inspiration for cancer patients worldwide, spreading his reach far beyond the insular world of cycling and cementing a place in celebrity culture, dating a rock star and appearing in movies. The bright yellow "LIVESTRONG" wristbands distribute by his charity became a potent symbol for perseverance in the face of adversity. People should look to that legacy in assessing Armstrong, Livestrong President Doug Ulman said in praising the charity's founder. Read more: Evidence of Armstrong doping 'overwhelming,' agency says "Lance's devotion to serving others whose lives were irrevocably changed by cancer, as his was, is unsurpassable," he said in the statement. "We are incredibly proud of his record as an advocate and philanthropist and are deeply grateful that Lance and his family will continue to be actively involved with the Foundation's advocacy and service work." In its report, the anti-doping agency made public testimony from Armstrong's teammates and others involved in the U.S. Postal Service- and Discovery-sponsored cycling teams who said the seven-time Tour de France winner was among team members who used banned performance-enhancing substances and tried to hide it from testing officials. Armstrong has said he never has failed a drug test and has consistently denied participating in any banned practices. Armstrong's lawyer, Tim Herman, called the report last week a "one-sided hatchet job" and a "government-funded witch hunt." Opinion: With Armstrong's disgrace, will anything change? Last week, Ulman also defended Armstrong against the doping charges, issuing a statement saying USADA appeared to be "motivated more by publicity rather than fulfilling its mission." In that October 10 statement, he lauded Armstrong for his achievements "both on and off the bike." McLane also noted the day of the report's release that donations to the charity had boomed since August, when Armstrong announced he was ending his legal fight to stop USADA's investigation. According to Livestrong, Armstrong has helped raise nearly $500 million for cancer research, treatment and support in his role as Livestrong founder and helped "dispel the stigma and misconceptions about the disease." Read more: Highlights of the Armstrong report Do you own a Livestrong bracelet? Share with us on CNN iReport CNN's Danielle Dellorto contributed to this report.