US President Barack Obama was named TIME's Person of the Year for 2012, because of his historic win over the re-election in November 2012 which is being considered as symbol of the nation's changing demographics amid the backdrop of high unemployment and other challenges.
His name was announced by TIME editor Rick Stengel on NBC's Today program on 19 December 2012.
It is the second time Barack Obama is being accorded with this honour. He had also received the honour in 2008, when he was first elected as president.
Obama had won re-election despite a higher unemployment rate than anybody's had to face in basically in 70 years. He's the first Democrat to actually win two consecutive terms with over 50 percent of the vote.
The short list for the honour included Malala Yousafzai, the Pakistani teenager who was shot in the head for advocating for girls' education, as well as Egyptian President Mohamed Morsi, Apple CEO Tim Cook and Italian physicist Fabiola Giannati.
Time's Person of the Year is the person or thing that has most influenced the culture and the news during the past year for good or for ill. In 2010, Facebook founder and CEO Mark Zuckerberg received the honour.
Last year in 2011 Time honoured "The Protester," citing dissent across the Middle East that spread to Europe and the United States, saying the protesters reshaped global politics.
Other previous winners have included Federal Reserve Chairman Ben Bernanke, Bono and President George W. Bush.
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