Russian President Vladimir Putin was named Time magazine's Person of the Year for 2007 on Wednesday for bringing stability and renewed status to his country.

(It's) for an extraordinary feat of leadership in taking a country that was in chaos and bringing it stability, Time managing editor Richard Stengel announced on NBC's Today Show.

The Russian president beat out several rivals including former Vice President Al Gore and British author J.K. Rowling.

Russia Al Gore Putin Vladimir putin