Iceland prime minister Johanna Sigurdardottir has made Forbes magazine’s “100 Most Powerful Women” list, becoming the only openly gay woman on the magazine's annual list.

Released last week, the list ranks top executives from powerful conglomerates such as Avon, PepsiCo, and Kraft Foods, as well as high-profile politicians from around the world including Speaker of the House Nancy Pelosi, Philippines president Gloria Macapagal-Arroyo, and German chancellor Angela Merkel, who tops the list for the fourth time in a row.

Sigurdardottir is Iceland’s longest-serving parliamentarian, and in February 2009 she became the island nation’s first female leader and the world’s first openly gay head of state.

Her leadership is instrumental in leading Iceland out of economic ruin. The worldwide financial crisis hit the country early and especially hard after its three largest banks collapsed.

Sigurdardottir has two kids from a previous marriage, and in 2002 she was joined in a civil partnership with journalist and author Jonina Leosdottir.

She is ranked 75th on the magazine's power list.