Respuesta :

The aging founder of the firm decided to abdicate. to give up or renounce (authority, duties, an office, especially in a voluntary, public, or formal manner: King Edward VIII of England abdicated the throne in 1936.

Answer:

Abdication is the legal act by which a sovereign king relinquishes power, usually to the benefit of a member of his family. Abdication can be linked to personal considerations, national (insurrection) or international (war) pressures. The essential character of abdication is to be voluntary, but it is rare to be completely that way. It is almost always the abandonment of a power in which circumstances do not allow it to remain in it any longer.