Ólafur Ragnar Grímsson , (born 14 May 1943) is the fifth President of Iceland, having served since 1996; he was unopposed in 2000, re-elected for a third term in 2004, re-elected unopposed for a fourth term in 2008 and re-elected for a record fifth term in 2012. He announced in his new year's message on 1 January 2016, that he would be stepping down from the presidency at the end of his fifth term, namely on 1 August 2016.