Whitman announcing bid for CA Gov

Former eBay CEO Meg Whitman will officially declare her candidacy for governor of California on Tuesday at an event in Fullerton, California.

LOS ANGELES (CNN) – Former eBay CEO Meg Whitman will officially declare her candidacy for governor of California on Tuesday at an event in Fullerton, California.

Whitman, the 53-year-old former CEO of eBay, will become a leading GOP candidate to succeed current Gov. Arnold Schwarzenegger in 2010, when he is forced to retire due to term limits. Ms. Whitman, who stepped down as CEO of eBay in March of 2008, has never held elected public office.

California has been beset by a fiscal crisis and massive budget deficits for nearly a year. Whitman advocates cutting the state's spending and reducing the state's workforce.