Hail to the chief -- and Time magazine's 2012 Person of the Year -- President Barack Obama.

Obama is a two-time winner, having initially scored the title back in 2008 after he was sworn in as the United States' first African-American president.

This time around, Time lauded Obama for "finding and forging a new majority, for turning weakness into opportunity and for seeking, amid great adversity, to create a more perfect union."

President Obama will also take his second presidential oath of office on Jan. 20 “as the first Democrat in more than 75 years to get a majority of the popular vote twice [which only] five other Presidents have done [in] U.S. history."

Runners-up for the Person of the Year honors include Malala Yousafzai, that brave Pakistani teenager who was almost killed by the Taliban for defending women's rights; Apple CEO Tim Cook; Egyptian President Mohamed Morsi; and Fabiola Gianotti, one of the head researchers currently working toward discovering the Higgs Boson particle (or in layman's terms: science).

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