The Gloucestershire Warwickshire Steam Railway plc (GWSR) operates the railway, which is owned by its shareholders. All the working staff of the railway report to the GWSR, and nearly all are unpaid volunteers who must in addition be current members of the Gloucestershire Warwickshire Railway Trust (GWRT).
The day-to-day operations of the plc and the Trust are in the hands of boards of directors that are elected by their respective shareholders (or members). Coordination is facilitated by having some directors who sit on both boards. The management team at the GWSR sets the strategic goals for the railway, and directs the activities of the volunteer and paid workforce.
The railway has a prime objective of maintaining the safety of its passengers, volunteers and paid staff. A member of the plc board, the Safety Director, provides safety advice to the plc board and has a direct responsibility for overseeing all safety related matters at the railway. This director chairs a Safety Team which assists in watching over the safe operation of the railway.