Time names Intel's Grove 'Man of the Year'

Time Magazine's latest issue proclaims Intel CEO and chairman Andrew Grove as its Man of the Year for 1997.

In an accompanying profile piece, Hungary-born Grove, 61, talks about the impact of the Holocaust and the scarlet fever that damaged his hearing.

"Intel, the firm he built, has survived in one of the most tumultuous industries in history, emerging to become one of the most powerful companies of our age, with a stranglehold on one of the transformative technologies of the 20th century," wrote Time senior editor Joshua Cooper Ramo.

The prestigious award was first won in 1927 by aviator Charles Lindbergh.