Meaning of the word "stepping down" in English

What does "stepping down" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

stepping down

US /ˈstɛpɪŋ daʊn/
UK /ˈstɛpɪŋ daʊn/

Phrasal Verb

to resign from an important position or office

Example:
The CEO announced he would be stepping down at the end of the year.
After years of service, she decided it was time for her to be stepping down.