VANCOUVER, Wash. -- Sherborne Investors, a key stakeholder in Nautilus Inc., says it has succeeded in its effort to gain control of the board of the Vancouver-based fitness company.

A special shareholder meeting was held Tuesday to vote on several proposals put forth by Sherborne, which is dissatisfied with the financial performance of the struggling company and turnaround plan put in place by management.

The results are not official yet. But after the market closed Tuesday, Sherborne issued a press release that said based on information provided by its proxy solicitation firm, D.F. King & Co. Inc., it believes all four Sherborne nominees have won election to the Nautilus board of directors. Official results are not expected for several weeks.

Nautilus CEO Robert Falcone told The Oregonian Tuesday that the election results were still unknown but the company's proxy service said that voting was close.