Fonterra's board is facing renewed pressure to further cut the number of directors and make do with fewer independents.

Fonterra directors have completed a second round of meeting with shareholders on proposed changes to its leadership structure.

Two internationally renowned presenters will provide Fonterra farmers with their expert views at upcoming Shareholders' Council 'Grow Your Mind Seminars' (GYMS).

Fonterra Shareholders' Council chairman, Duncan Coull, said today's interim results announcement was in line with forecasts, and the expectations of the council.

Fonterra Shareholders Council says the co-op's 45c drop in the 2015-16 forecast payout is a sobering blow to farmers.

The writing is on the wall for Fonterra's chairman John Wilson, his board and management; fed-up farmer shareholders are demanding changes.

Fonterra farmers were angry with the directive from the Shareholders Council to vote against a remit, says Greg Gent.

Fonterra farmers want a smaller board, says co-op chairman John Wilson.

A former chief executive of Australian dairy processor National Foods and Waikato dairy farmer Ashley Waugh has been elected to the Fonterra Board of Directors.

Fonterra's return on capital sits at the bottom end of the range of returns of other global dairy co-ops, says the Shareholders Council.