Korey will remain at Away in the role of executive chairman. Stuart Haselden, the COO of Lululemon, will take over as CEO on January 13.
Away co-founder Jen Rubio will remain in the role of president and chief brand officer.
The news comes after an investigation by The Verge detailed allegations of a toxic workplace culture perpetuated by Korey.
Korey tweeted a statement on Friday in which she acknowledged she'd "made mistakes" and expressed herself in "ways that hurt the team." She said she was "appalled and embarrassed" and was "not proud" of her behavior. She also said she was "sincerely sorry" for her actions.
"It was wrong, plain and simple," the statement read.
Korey said that she's worked hard to improve as a leader and has worked closely with an executive coach.
"I know I have more work to do, and I will do better for the team," Korey said in the tweet.
Away sells direct-to-consumer travel products and was most recently valued at $1.4 billion. Korey and Rubio previously worked at eyewear company Warby Parker.
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