In just two years as artistic director, Boston Ballet’s Mikko Nissinen has had to deal with a budget crisis and the displacement of “The Nutcracker.” But he has also put on critically acclaimed productions, hired new dancers, and adapted to changes that might have stifled other companies.

This month, Boston Ballet’s board rewarded Nissinen with a five-year contract that will keep him at the company through the 2008-2009 season.