Abdication (noun)

The act of formally giving up a throne, office, or other position of power and authority.

Origin:

The word "abdication" comes from the latin word "abdicatio" which means to renounce or to give up. it has been in use since the 16th century and it refers to the act of formally giving up a throne, office, or other position of power and authority.

Examples:

1. The king's abdication was a surprise to the entire nation.
2. The emperor's abdication marked the end of a long reign.
3. The queen's abdication was a shocking event in the monarchy.
4. The CEO"s abdication was prompted by the company"s poor performance.
5. Abdication is a formal process that is usually done in front of a high-ranking official or legal body.