Following feedback and 17 shareholder meetings, chairman Rob Hewett said some minor changes were made to the original proposal and they will be voted on at a special meeting on September 14.
The changes include increasing the number of directors from eight to 10, enhancing director succession and nurturing talent by offering governance experience to talented farmer shareholders.
After feedback the increase in directors would be nine instead of 10.
Five of them will be farmer-elected, three independent and one appointed farmer director for a three-year term.
The appointed farmer can be invited by the board to apply or put themselves forward but the appointment will be made by an independent panel.
If farmers want to stay on the board after one term, they will have to seek election.
The idea is to offer governance experience to shareholders who have talent but are unsure what the role entails and are deterred by the electoral process.
With a requirement to appoint four directors to the Silver Fern Farms company, the operating entity owned with Shanghai Maling, the co-operative has to develop directors with governance experience, Hewett said.
The co-operative board has eight directors, of which five are farmer-elected and three independents.
A second recommendation to limit directors to three three-year terms remains. In the interests of continuity, the chairman can serve another two terms.
The recommended changes require approval from 75% of eligible votes cast.
