JOEL SAGET/AFP/Getty Images
A picture taken on October 18, 2012 in Paris shows a broken Livestrong wristband, a yellow silicone gel bracelet launched as a fund-raising item for the Lance Armstrong Foundation. Lance Armstrong announced on October 17, 2012 he was stepping down as head of the foundation following the US Anti-Doping Agency (Usada) report published last week.
Nike, Anheuser Busch, Trek Bicycles. Those are just three of the companies that severed their ties with Lance Armstrong in the last 24 hours
Their decisions came on the heels of a damming report issued last week by the United States Anti-Doping Agency, which released a report claiming that Armstrong was at the center of a massive, sophisticated doping ring.
Yesterday, the cyclist stepped down as chairman of his Livestrong cancer fighting charity
In a statement Armstrong said he wanted to, quote, "spare the foundation any negative effects as a result of the controversy surrounding my cycling career"
For more on this, we're joined by Howard Bragman, a crisis communication specialist and Vice President of Reputation.com.