But its 10 farmer directors will be on the road next week for a hectic schedule of 35 shareholder meetings.
Over five days, each director will attend between four and 10 meetings accompanied by senior executives.
In a letter, Fonterra chairman John Roadley urged farmers to attend the "very important" round of meetings.
He said the agenda would cover governance issues and also include updates on the Nestle alliance, the market, the company, the "fair value share" and the milk price.
The chairman of the watchdog Shareholders Council, John Wilson, also wrote to farmers noting a level of frustration with the board, including an apparent lack of unity and doubt about its leadership.
He said a small group of councillors would work with Mr Roadley and the board's advisers over coming weeks to get "a better understanding and a first-hand perspective" of Fonterra's governance.
McKinsey consultants were to report to the workshop on issues including board size and the ratio of farmers to independent directors.
A McKinsey principal in New Zealand, Andrew Grant, said overseas consultants had sought the views of leading international institutions on good governance.
Fonterra's problems were "relatively minor" considering the company's global scale, he said.
Mr Roadley said this week that he would like the board reduced to 10 or 11 and have a higher ratio of independent directors than the present three.
He said the workshop aimed to develop a decent work plan for the board including its role and functions.
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International Dairy Summit
