NNLO corrections to event shapes in e^+e^- annihilation

We compute the next-to-next-to-leading order (NNLO) QCD corrections to the six most important event shape variables related to three-particle final states in electron-positron annihilation. The corrections are sizeable for all variables, however their magnitude is substantially different for different observables. We observe that the NNLO corrections yield a considerably better agreement between theory and experimental data both in shape and normalisation of the event shape distributions. The renormalisation scale dependence of the theoretical prediction is substantially reduced compared to the previously existing NLO results. Our results will allow a precise determination of the strong coupling constant from event shape data collected at LEP.