Fetching details from the dictionary...

to step back; to move back; to retreat
to withdraw (from the presence of a superior); to leave; to exit
to resign; to retire; to quit
to concede
「退く」 has another reading with different meanings.
状況が悪化して彼は徐々に退いていった。
As the situation worsened, he gradually retreated.
一歩後ろに退いてください。
Please step back one step.
長年勤めた会社の役職から退くことを決めた。
I decided to step down from my position at the company where I worked for many years.