History of Time Magazine: The tradition of selecting a Man of the Year began in 1927, with Time editors contemplating newsworthy stories possible during a slow news week. The idea was also an attempt to remedy the editorial embarrassment earlier that year for not having aviator Charles Lindbergh on its cover following his historic trans-Atlantic flight. By the end of the year, it was decided that a cover story featuring Lindbergh as the Man of the Year would serve both purposes.
Since then, individual people, classes of people, an invention, and a planet have been selected for the special year end issue. In 1999, the title was changed to Person of the Year  in an effort to be more inclusive. However, the only women to win the renamed recognition as an individual so far were those recognized as The Whistleblowers (2002) and Melinda Gates (jointly with Bill Gates and Bono in 2005). Before that, four women were granted the title as individuals, adapted as Women of the Year — Wallis Simpson in 1936, Soong May-ling (Madame Chiang Kai-shek) in 1937, Queen Elizabeth II in 1952, and Corazon Aquino in 1986. Several classes of people comprise of both men and women, or women only, namely Hungarian Freedom Fighter in 1956, U.S. scientists in 1960, Twenty-Five and Under in 1966, The Middle Americans in 1969, American Women in 1975, The American Soldier in 2003, and You in 2006.