Putin is Time magazine's 'Person of the Year'

WASHINGTON - Russian President Vladimir Putin was named Time magazine's "Person of the Year" for 2007 on Wednesday for bringing his country "roaring back to the table of world power."

Putin, a former KGB official who was picked from obscurity in 1999 by then-president Boris Yeltsin, will appear on the cover of Time as the person the editors believe had the greatest impact on events this year, for better or worse.

"He's not a good guy, but he's done extraordinary things," said Time managing editor Richard Stengel, who announced Putin's selection on NBC's "Today Show."

"He's a new tsar of Russia and he's dangerous in the sense that he doesn't care about civil liberties; he doesn't care about free speech; he cares about stability. But stability is what Russia needed and that's why Russians adore him."

The choice came days after Putin announced a plan to hold onto power after his term ends. Putin said on Monday that if his close ally, Dmitry Medvedev, wins next year's presidential vote, he would serve as Medvedev's prime minister.

The Russian president beat out several rivals for the Time distinction, including former U.S. Vice President Al Gore, British author J.K. Rowling, Chinese President Hu Jintao and U.S. Commander in Iraq Gen. David Petraeus.