Time Magazine has named President Barack Obama as its Person of the Year for 2012.

In naming the President as the 2012 Person of the Year, Time said, "In an age of lost authority, Obama had managed to maintain his. In group after group, the voters told the researchers they believed the President was honest, lived an admirable personal life and was trying to do the right thing."

In talking about the tone of the 2012 election, Time said, "When Republicans channeled their party’s many furies, attacking Obama as an extremist, it backfired among swing-state voters."

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Obama was named over runners-up Malala Yousafzai, Tim Cook, Mohamed Morsi and Fabiola Gianotti.

Yousafzai is a Pakastani teenager who was shot in the head by a Taliban assassin while sitting on a school bus. Since the October incident she has become a children's rights activist and a symbol in the efforts to secure an education for girls in the Arab world.

Cook is the CEO of Apple. He has run the company since the death of company founder Steve Jobs. He is largely credited with keeping Apple growing when many questioned whether or not the company could survive Jobs' death.

Morsi is the first democratically elected leader of Egypt, brought to power during the Arab Spring. He has also become a lightning rod in the region as several of his policies have triggered renewed protests and calls for further reforms.

Gianotti is on of the head scientists at the European Organization for Nuclear Research, better known as CERN. She was one of the leaders of the team that found the Higgs Boson Particle, a discovery that has energized the world of physics.