It’s not easy to measure excellence in a year like 2008. While some managers can be judged by the bottom line, others merely had the good fortune to be running a food company instead of a financial firm. Then again, with volatile commodity prices, succeeding in the food business wasn’t such an easy task.

BusinessWeek has singled out 12 executives who did a remarkable job of navigating stormy waters. Some have posted stellar results. Others are struggling. But there are lessons to be learned from each of them.