Official: Former eBay CEO Meg Whitman Running For Governor of California

Posted Feb 9, 2009

On January 3, 2011, Governor Arnold Schwarzenegger will be stepping down as the Governor of California as he is serving his second term right now.  Schwarzenegger represents the Republican party.  There was speculation for quite some time now that Meg Whitman, former eBay CEO, will run for office of the Governor of California.  Today it has been confirmed.

Margaret Cushing “Meg” Whitman was President and CEO of eBay from March 1998 to March 2008.  Through eBay, Whitman was worth $1.4 billion in 2007 based on her position.  She was also listed on the Forbes Top 100 Most Powerful Females at one point.  She is no longer on the Forbes list though.

Whitman made it official by forming an exploratory committee.  She will be facing off against Steve Poizner.  Poizner is currently the State Insurance Commission of California.  Poizner founded SnapTrak, Inc. and Strategic Mapping, Inc.  SnapTrak was sold to Qualcomm for $1 billion in 2001.

Former California Governor Pete Wilson will serve as Campaign Chairman for Whitman’s Exploratory Committee.

“After careful consideration and with tremendous loyalty to our Golden State, I have formed an Exploratory Committee, the first step in the process of running for Governor in 2010,”  stated whitman. “California faces challenges unlike any other time in its history — a weak and faltering economy, massive job losses, and an exploding state budget deficit. California is better than this, and I refuse to stand by and watch it fail. Now is the time for people across the state to join in a cause for change, excellence and a new California.”

When Whitman joined eBay as CEO, the company grew from 30 employees with $4.7 million in revenues and 300,000 users to 15,000 employees, $8 billion in revenues, and over 300 million registered users.  About 12 million of eBay’s users are from California.

McCain’s Endorsement during 2008 Presidential debates
During the 2008 Presidental debates this past October, John McCain endorsed Meg Whitman as being a good candidate for the Treasury secretary.  ?Meg Whitman was CEO of a company which started with 12 people,? stated McCain.  eBay founder Pierre Omidyar replied on his Twitter, “Ahem. Started with 12 people?” (see image below).  Whitman joined McCain’s presidential campaign last year as the national co-chair.