 Upon O'Bannon's death in 2003, Lieutenant Governor Joe Kernan ascended to the governorship, and he appointed Davis Lieutenant Governor, the first woman to hold the post.During her time in office, she served as President of the Indiana State Senate, Commissioner of Agriculture, Secretary of Commerce and chaired the Indiana Counter Terrorism and Security Council.Davis left the public sector again in 2005 at the end of the Kernan-Davis term.