TIME Person of the Year 2012 winner: Today Show to announces President Obama as winner

President Barack Obama was named TIME Magazine's 'Person of the Year' Wednesday morning on the Today Show.

Before announcing the winner, the Today Show's hosts Tuesday named eight front-runners for this year's cover.

According to TIME Magazine, the list included:

Malala Yousafzai, the young Pakistani activist who was shot in the head by the Taliban for her crusade for better girls' education;

Egyptian president Mohamed Morsi;

Bill and Hillary Clinton for their global humanitarian and political activism.

Marissa Mayer, CEO of Yahoo!

Tim Cook, CEO of Apple

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