The President of Iceland is Iceland's elected head of state. The president is elected to a four-year term by universal adult suffrage and has limited powers. The constitution does not limit the number of terms the president is allowed to serve. There have been five presidents since Iceland became independent from Denmark in 1944. The incumbent is Ólafur Ragnar Grímsson, who is now in his fifth term as president, first elected in 1996, and most recently re-elected in 2012.