The chief executive of London-listed miner Bumi Nick von Schirnding told CNBC that the outcome of Thursday's shareholder vote had given the company's management a mandate to get on with its strategy.
Shareholders rejected financier Nat Rothschild's attempt to oust 12 of the 14 board members and the company's current chairman and chief executive.
Rothschild's bid to join the board received only 37 percent of the votes.
"[The vote] is a clear message, in my view, that the very openly hostile confrontational approach by Nat into all matters that pertain to Bumi has not worked and shareholders won't endorse that, it won't get us anywhere," von Schirnding said on CNBC Europe's "Squawk Box".
The company's shares have tumbled as a result of a drop in coal prices and a bitter boardroom battle between Rothschild and Indonesia's Bakrie family.
Rothschild, who helped set up Bumi, which listed in London in 2011, called Thursday's victory for the board "pyrrhic".
He has also alleged that $1 billion in money has gone missing from the company.