Illustration: Eniola Odetunde/Axios

After replacing herself as CEO of Away in December following a major investigation into a toxic corporate culture at the suitcase company, Steph Korey has now unresigned, telling the New York Times' Andrew Ross Sorkin that she would instead stay on as co-CEO.

Why it matters: Korey's December announcement said that her new job would be "executive chairman" — the classic role of someone who wants power without accountability.

  • According to Korey, the news is largely cosmetic. She told Sorkin that even when she officially resigned as CEO, she still expected to operate pretty much in her original role, just with a different title.

How it works: All executives report to the CEO, so on some level an executive chairman should report to the CEO. But because the executive chairman is also the chairman of the board of directors — which can fire the CEO — the job is also that of the CEO's boss.

  • Other high-profile executive chairmen have included Eric Schmidt at Google and Reid Hoffman at LinkedIn.

The bottom line: Being a CEO carries with it an extremely uncomfortable degree of scrutiny and accountability; being an executive chairman, on the other hand, comes with very little of either.

  • Korey intended to continue to run the company all along, with her resignation being just for show. That's cowardice, not leadership. The job of executive chairman has never made much sense, and this latest debacle helps to explain why the role probably shouldn't ever exist.

Go deeper: How an out-of-depth CEO led to struggles at Away

Go deeper

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 6:30 a.m. ET: 30,199,007 — Total deaths: 946,490— Total recoveries: 20,544, 967Map
  2. U.S.: Total confirmed cases as of 6:30 a.m. ET: 6,675,593 — Total deaths: 197,644 — Total recoveries: 2,540,334 — Total tests: 90,710,730Map
  3. Politics: Former Pence aide says she plans to vote for Joe Biden, accusing Trump of costing lives in his coronavirus response.
  4. Health: Pew: 49% of Americans wouldn't get COVID-19 vaccine if available today Pandemic may cause cancer uptick The risks of moving too fast on a vaccine — COVID-19 racial disparities extend to health coverage losses.
  5. Business: Retail sales return to pre-coronavirus trend.
Mike Allen, author of AM
2 hours ago - Politics & Policy

Scoop: Mike Bloomberg's anti-chaos theory

CNN's Anderson Cooper questions Joe Biden last night at a drive-in town hall in Moosic, Pa., outside Scranton. Photo: CNN

Mike Bloomberg's $100 million Florida blitz begins today and will continue "wall to wall" in all 10 TV markets through Election Day, advisers tell me.

Why it matters: Bloomberg thinks that Joe Biden putting away Florida is the most feasible way to head off the national chaos we could have if the outcome of Trump v. Biden remained uncertain long after Election Day.

Biden's hardline Russia reset

Photo Illustration: Eniola Odetunde/Axios. Getty Images photos: Mark Reinstein

When he talks about Russia, Joe Biden has sounded like Ronald Reagan all summer, setting up a potential Day 1 confrontation with Russian President Vladimir Putin if Biden were to win.

Why it matters: Biden has promised a forceful response against Russia for both election interference and alleged bounty payments to target American troops in Afghanistan. But being tougher than President Trump could be the easy part. The risk is overdoing it and making diplomacy impossible.