"The activist hedge fund Starboard Value prevailed on Friday in its showdown with the board of Darden Restaurants, the owner of Olive Garden and other restaurant chains, winning shareholder support to replace the entire board.

After its annual meeting in Orlando, Fla., Darden announced that based on a preliminary vote count, shareholders had elected all 12 of Starboard’s nominated directors, a rare repudiation of a full board...

The resounding victory caps a one-year battle between Darden and a group of disgruntled investors who first called for Darden to create a separate company for its Red Lobster and Olive Garden chains...

What began as an effort to push for change at Darden, which owns brands like LongHorn Steakhouse, Capital Grille, Seasons 52, Yard House, Bahama Breeze and Eddie V’s, developed into a full-blown fight for control of the board."

http://dealbook.nytimes.com/2014/10/10/a...=blogs&_r=1&;