Darden Restaurants' entire board was ousted in a meeting on Friday by activist Starboard Value in a rare victory for dissident investors.
The win is a feather in the cap for Starboard, one of Darden's largest investors with an 8.8 percent stake. It is uncommon for activist investors to win more than a few spots on company boards.
The ouster is also a stinging defeat for Darden, which earlier this year alienated many investors after brushing off their vote requesting a special meeting on a $2.1 billion sale of Red Lobster.
Shares in Darden were up 1.6 percent to $50.06 in early trading. (Get the latest quote here.)