Wilson says he believes the Vancouver-based company is back in gear after losing its way in recent years.
"I am happy to say that I now believe the company has returned to the core values that made it great – product, brand and culture – and is back on track," said Wilson in a statement issued on Monday morning.
Wilson was called back from a sabbatical in Australia in 2012 to take control of the daily operation of the company.
"Upon returning from Australia, I saw that the company had lost its way and was driven by the wrong values.Trying to affect a fundamental shift in direction is hard and I had to raise a strong voice to make myself heard while taking decisive action to implement change," said the statement.
The company had a series of public relations disasters after customers complained some of it yoga pants were seethrough.
Wilson himself became part of the controversy when he said the problem may lie with customers wearing unsuitable sizes.
He said he intends to step away, and help his son and wife focus on their new streetwear clothing brand Kit & Ace.
"I have achieved the goals I set when I came back, and after careful thought, I believe that now is the right time to step away from the board. I leave behind a new and talented management team and new board construct."