Obama named TIME's Person of the Year

WASHINGTON Wed Dec 19, 2012 7:22pm IST

U.S. President Barack Obama, who won a second term in office by defeating Republican presidential nominee Mitt Romney, waves as he addresses supporters during his election night victory rally in Chicago, November 7, 2012. REUTERS/Jim Bourg

U.S. President Barack Obama, who won a second term in office by defeating Republican presidential nominee Mitt Romney, waves as he addresses supporters during his election night victory rally in Chicago, November 7, 2012.

Credit: Reuters/Jim Bourg

Stocks

   

WASHINGTON (Reuters) - U.S. President Barack Obama was named TIME's Person of the Year for 2012, citing his historic re-election last month as symbolic of the nation's changing demographics amid the backdrop of high unemployment and other challenges.

TIME editor Rick Stengel announced the choice on NBC's "Today" program on Wednesday.

"He's basically the beneficiary and the author of a kind new America - a new demographic, a new cultural America that he is now the symbol of," he said.

"He 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. That's something we haven't seen since Franklin Delano Roosevelt," Stengel said, citing the president who served during the Great Depression and World War Two.

Obama edged out Malala Yousufzai, a Pakistani girl shot in the head by the Taliban for advocating girls' education, for the honor, Stengel said.

Other finalists included Apple Chief Executive Tim Cook, Egyptian President Mohamed Morsi and scientist Fabiola Gianotti, he added.

(Reporting By Susan Heavey)

FILED UNDER:

Reuters Showcase

Markets Weekahead

Markets Weekahead

Focus on sectors which will build India: Ambareesh Baliga.  Full Article 

FMC-SEBI Merger

FMC-SEBI Merger

Regulatory shakeup could revive commodities markets   Full Article 

Tax Incentives

Tax Incentives

Budget woos foreign investors  Full Article 

Excise Duty

Excise Duty

Cigarette makers fall after budget hikes excise duty  Full Article 

Welcoming the Budget

Welcoming the Budget

India Inc cheers corporate tax cut, simpler rules  Full Article 

Gold Price

Gold Price

Gold prices to rise after budget keeps import duty high  Full Article 

Fuel Prices

Fuel Prices

IOC to raise diesel, petrol prices from Sunday  Full Article 

Moody's on Budget

Moody's on Budget

Budget "credit neutral" from a ratings perspective - Moody's   Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage