Governor Sarah Palin, in a surprise announcement, gave her resignation in a hastily called press conference at her home in Wasilla.  She said in her announcement that she has no intention of being a lame duck governor.  She will not seek a second term in the 2010 gubernatorial election.

Palin said she would relegate the power of governor to Lt. Governor Sean Parnell on July 26th after the Governor’s picnic in Fairbanks.  Lt. General Craig Campbell, current commissioner of the AK Dept. of Military and Veterans Affairs will serve as Lt. Governor.

Palin said that once she decided to not run for re-election, she didn’t want to assume the lame duck status.    She did not elaborate on concrete reasons for stepping down.