LCRA's Board of Directors comprises 15 members appointed to six-year terms by the Governor and confirmed by the Texas Senate. The Board meets regularly to set strategic corporate direction for the general manager and staff, to approve projects and large expenditures and to review progress on major activities and issues.

The executive team is led by the general manager, who serves as chief executive officer and directs the daily activities of LCRA's staff.  The general manager, general counsel and general auditor report to LCRA's Board of Directors. Reporting to the general manager are a chief financial officer, chief administrative officer and the executive managers of Wholesale Power Services, Transmission Services, Water Services and External Affairs.

LCRA's Board of Directors oversees three affiliates. All members of LCRA's Board also serve on the boards of LCRA Transmission Services Corporation and LCRA Wholesale Energy Services Corporation. Five members of LCRA's Board serve on the board of GenTex Power Corporation, along with four representatives from LCRA's wholesale electric customers.