Tags: Alaska Governor , Resigns , Sarah Palin

Anchorage, Alaska : In a surprise move, Alaska Governor Sarah Palin said today she was stepping down and would not seek re-election, fuelling swift speculation of a possible 2012 White House bid.

Palin, who was Republican John McCain's controversial running mate in his failed 2008 White House bid, said she would step aside as governor in "another few weeks" and be replaced by Lieutenant Governor Sean Parnell at the governor's picnic in Fairbanks, Alaska on July 26.

Palin, 45, told a press conference at her lakefront home in Wasilla, Alaska, that she wanted to "take a stand and effect change, not just hit our head against the wall and watch valuable state time and money.

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