Complex sentence: The result was a victory for the incumbent Ólafur Ragnar Grímsson, who defeated his nearest rival Thóra Arnórsdóttir by nearly 20% of the vote, and went on to serve a record fifth term as president of Iceland.
Split into simpler sentences: The result was a victory for Ólafur Ragnar Grímsson, who defeated his nearest rival, Thóra Arnórsdóttir, by nearly 20% of the vote. He will now serve a record fifth term as president of Iceland.