Fonterra shareholders are frustrated and want accountability after turbulent times for the country's biggest company.
About 200 farmers gathered in Invercargill for the dairy giant's annual general meeting.
The co-op recently posted a $605 million loss for the last financial year, and didn't pay dividends to shareholders.
Much of the frustration was vented towards Fonterra's board of directors and its chairperson.
RNZ Otago/Southland reporter Tess Brunton was at the meeting.