Olafur Ragnar Grimsson

Olafur Ragnar Grimsson was elected President of Iceland, succeeding Vigdis Finnbogadottir. He won with 41.4% of the vote. His presidency began a period of 20 years in office, making him one of Europe's longest-serving heads of state.

Grimsson refused to sign a media ownership bill passed by parliament, triggering a national referendum. The bill aimed to restrict media ownership. Voters rejected the bill in the referendum. This was the first time a president used the veto power since Iceland's independence.

Grimsson was re-elected President of Iceland unopposed as no other candidate qualified for the ballot. This occurred during the 2008 financial crisis that severely impacted Iceland. His unopposed re-election reflected political consensus during a national emergency.

Grimsson announced he would not seek re-election after 20 years as president. His decision followed the Panama Papers scandal, in which his wife was implicated. He left office in August 2016, ending the longest presidential tenure in Iceland's history.