The election for the Board of Directors has resulted in a former outcast, and critic of the cooperative's direction, being elected.
Leonie Guiney is back in, after being pushed out last year, which ended up in a defamation claim with the co-op.
JMI Wealth's Andrew Kelleher says shareholders also snubbed two candidates the existing board had recommended.
He says shareholders have sent a message that the co-op needs a shakeup.
Fonterra lost nearly 200-million dollars last year - its first ever net loss - and the CEO and board chairman left.
