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Time's Person of the Year for 2011 is ... "The Protester."

"There was a lot of consensus among our people," Managing Editor Rick Stengel told Ann Curry and Matt Lauer on Today Wednesday morning. "It felt right."

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Among the Person of the Year runners-up: Adm. William H. McRaven, who is credited with organizing and executing the raid that led to Osama bin Laden's death, and Kate Middleton, who married Prince William, the heir to the British throne.

Photo gallery: The best performances of 2011

has been selecting a Person of the Year since 1927. Past choices have included Franklin D. Roosevelt, Martin Luther King Jr. and Mark Zuckerberg.

Watch Stengel's announcement on Today:

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