Climbdown

noun

1. A retreat or withdrawal from an earlier position or opinion; a backdown.

   "Thursday's court appearance as he waited for his case to be heard was a humiliating climbdown for the flamboyant Texan, who sports the clipped mustache and Saville Row style of English aristocracy. — Texas cricket mogul pleads not guilty to fraud by Kate Murphy, The Age, June 26 2009"