#5. Shawn Michaels
Although Davey Boy Smith's victory over Bret Hart at Summerslam 1992 is still considered a milestone moment in WWE history, the same cannot be said about his reign. Smith was nothing more than a transitional champion and lost the title after only two months. The man who dispatched him as the champion, however, became the new leader of that division, and the man was none other than 'The Heart Break Kid' Shawn Michaels.
Starting his singles career in late 1991, Michaels won his first Intercontinental Title less than a year later and continued to hold it for more than 200 days. His feud with former partner Marty Jannetty and their match on Raw in 1993 where Michaels dropped the belt to him, are considered among the best that the company has ever produced.
Michaels' second reign began merely days later, and he again held the title for 113 days before he was suspended and stripped off the title. After a long rivalry with Razor Ramon(more on that later) and a run in the tag team and main event scene, Michaels held the title for one last time in 1995. While his reign lasted only 3 months, Michaels match with Ramon at Summerslam 1995 stands as one of the best Summerslam defence for the title. And now onto.....