The financial crisis and the ensuing global recession have ended a period of global growth that provided fertile ground for multinational companies. Much of the wealth created over the past few years was wiped out as financial markets collapsed around the world. Yet, at the end of 2008, while global stock markets were trading at levels well below those at the end of 2004, a select group of companies was bucking the trend. Despite massive share price declines from their peaks, 25 companies have generated nearly 15 percent value growth annually for the past five years. These companies are A.T. Kearney's Global Champions for 2009.