The job will be difficult, barring a major change in the economy: California is in crisis as housing foreclosures and unemployment rise and state revenues fall. Credit markets are closed to it and state coffers may be empty in about a month.
Video: Jim Goldman on Whitman's possible plan to run for CA governor.
Whitman quit the boards of Procter and Gamble , eBay and DreamWorks Animation on Dec. 31 for personal reasons, spokesman Henry Gomez said.
The former online auction chief had been considered by U.S. Republican presidential candidate John McCain as a potential Treasury secretary.
A person close to Whitman said that she had made a decision on whether or not to run for governor over the holidays and the board resignations were intended to clear the deck. They were also a fairly clear indication of her intention, the person said, declining to say specifically if she would run.
The decision would be clear within four to six weeks if she created an exploratory committee for her candidacy, the person said.
Two other Republicans have already formed exploratory committees for potential 2010 gubernatorial campaigns: State Insurance Commissioner and former tech entrepreneur Steve Poizner, as well as former California Department of Finance Director Tom Campbell, a former legislator from Silicon Valley.
Whitman's business background could attract voters but she would be a novice politician, said Jack Pitney, a professor of government at Claremont McKenna College and a former researcher at the Republican National Committee.
"She comes from business and claiming to have created jobs in this economy isn't bad," Pitney said.