Time Magazine Names President Obama their '2012 Person of the Year'

President Barack Obama graces Time magazines cover, winning their "2012 Person of the Year." The magazine unveiled its "Person of the Year" selection on the Today show earlier today.

"We are in the midst of historic cultural and demographic changes," Time managing editor Richard Stengel said in announcing its choice. "And Obama is both the symbol and in some ways the architect of this new America."

In 2011, Time picked "The Protester."

Runners-up this year were:

• Malala Yousafzai, the 15-year-old Pakistani women's rights activist who survived after being shot in the head and neck by Taliban
•  Apple CEO Tim Cook
• Egypt's Islamist President Mohamed Morsi
•  Scientist Fabiola Gianotti

Congrats to the President!

Do you agree with Time's choice? Sound off in the comments section below.