WASHINGTON (CNN) – Gov. Sarah Palin announced Friday that she will step down as Alaska's chief executive by the end of the month. She will not seek election to a second gubernatorial term in 2010.
Palin, a Republican, was elected governor in 2006. She was tapped as Arizona Sen. John McCain's vice presidential running mate last year.
Palin said she was transferring authority to Lt. Gov. Sean Parnell, who will be sworn in on July 26.
"People who know me know that besides faith and family, nothing's more important to me than our beloved Alaska," Palin said at an announcement from her home in Wasilla.
"Serving her people is the greatest honor I could imagine."
Palin added in a statement that she was "determined to take the right path for Alaska even though it is not the easiest path. ... Once I decided not to run for re-election, I also felt that to embrace the conventional 'Lame Duck' status in this particular climate would just be another dose of 'politics as usual,' something I campaigned against and will always oppose."
A Republican source close to Palin's political team told CNN's John King that it was a "calculation" she made that "it was time to move on."
The governor's "book deal and other issues" were "causing a lot of friction up" in her home state, the source said, adding that he believes that she is "mapping out a path to 2012."
Another source, speaking on the condition of anonymity, said that Palin "thinks she has accomplished goals she has set forward. ... She sees what a positive influence she has had on people's lives from traveling the country in the last year."
As the 2008 GOP vice presidential nominee, Palin has been considered one of the front-runners for the next GOP presidential nomination. Her decision not to seek another term as governor is sure to stoke speculation that Palin is seriously eyeing a run for the White House.
In an interview last month with CNN's Wolf Blitzer, Palin said she was unsure about her re-election bid because she needed to focus on her state and her family.
"So, no decision yet on either 2010 or let alone 2012?" Blitzer asked.
"No decision that I'd want to announce today," Palin responded.
– CNN's Peter Hamby, John King, Mark Preston, and Alan Silverleib contributed to this report.
(Updated at 4:45 p.m. with additional information)
Best thing to ever happen for Alaska.
Okay, I can understand her not running again, but are you saying, CNN, that she's quitting early and won't serve out the rest of her term? I'm so confoooooosed.
So Sarah is going for to run for President as a one-term governor of the country’s third least-populous state, elected with only 48% of the vote, who spent half of that term running for national office. Sure, works for me.
This can only mean she's about to be indicted..
Your telling the enemy, Barack Obama has lost before he starts.
Whatever Sarah is doing, you should be more interested in What Obama the Arab is doing...
Huh????? Winners never quit.
Maybe it is too hard to be everything to everyone? Maybe there is some dirt about to be dug up? Maybe Greta and the First dude are having an affair? How is quiting being the Govener DURING your first term lead well into running for president?
Maybe our prayers have been answered and she'll just go away?
wow, something is up, but what? she is so power hungry,. it is hard to believe that she would give that up.
She was governor of Alaska? :)
Well, either she knows she's one step ahead of some sort of *really* nasty ethics probe, or she's under the delusion that it's a good time to start campaigning for President in 2012. Either way, what bliss.
The small town grasper careens off into lala land.
I would love to be able to get through one single day without CNN reporting something about this ego maniac woman. I will never, ever forgive John McCain for unleashing this beast on us.
OMG There are so many more talented, qualified GOP frontrunners for President in 2012 she may as well have stayed on as Governor and kept embarassing herself and her family. Someday she'll get it.
Yay! Will she go away now? I doubt it.
MJ: if u voted for Obama, u have no right to criticize any political candidate's resume.
Good for Alaska. If she thinks that by being a quitter she'll be in a good position for a national race in 2012 she is dead wrong!
Is it too early to get a jump on 2012? I say make your presence known on all the major shows, maybe write a book or two, and be in the face of everybody, then in 2010 announce a run for President.
Very shocking news.
Watch the screen door don't hit you too hard on the backside when you leave, Sarah. You might just sail over the Bering Sea and land in Putin's lap! LOL!
I get the fact she's not running for re-election but doesn't she have to finish her term? Is CNN giving out erroneous info.?
I wonder what she was caught doing now.....
More posturing for the top office by Palin...I don't understand why she wouldn't stay in office until 2010, she certainly would be able to keep her name in the news much easier as governor of Alaska (as that has obviously been her intention EVERY SINGLE WEEK. Oh well, huzzah for the people of Alaska.
Gosh I wish we can sell Alaska back to the Russians.....for free!!! and maybe pay them for taking Sarah.
She obviously thinks she can be President. Pawlenty did the same thing, and a lot of people think he's eyeing a run. Of course, with Palin's numbers, Democrats should be praying she's the nominee.
No surprise there. Sarah Palin wasn't competent to serve even one term as Governor. Let alone, two terms.
Is she going back to school?
Please god let Sarah Failin be forever the face of the Repugnikan party.
The gift that keeps on giving.