Energy Transfer LP ·ET

Two co-CEOs jointly oversee divisional pipeline empire

Energy · Fortune #51 · Divisional structure · 14K employees · Dallas, TX

View as of:
3
CEO span
↓ tighter than peers (avg 7)
3.5
Avg span
moderate
3
Max depth
3 levels
4.8 yr
Avg tenure
stable vs FY2024
100%
Internal hires
↑ above industry avg
Consolidated financials FY2025 · period end 2025-12-31 · 10-K
Revenue
$85.5B
Operating income
$9.0B
Net income
$4.4B
Total assets
$141.3B
Shares out
3.44B

Sourced from Energy Transfer LP 10-K · filed 2026-02-19 ↗ View on SEC

Interactive org chart

Energy Transfer LP organizational chart

Explore the executive structure, reporting layers, and scenario-ready operating model from public filings.

Open editable chart

Energy Transfer is led by two co-CEOs, an uncommon structure in the midstream sector. This page maps its divisional leadership, executive team, and reporting lines, with analysis and peer comparison highlighting how governance differs from pipeline peers.

What to model

Use the chart to test org decisions, not just view reporting lines

Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.

Latest signal Gregory G. McIlwain departed as EVP Operations

Announced intention to retire effective April 6, 2026.

Source · See change log

Scenario views in the chart

  • Add Chief Operating Officer Introduce a COO reporting to the co-CEOs to centralize operational oversight and reduce CEO span.
  • EVP Operations Retirement Succession Remove the retiring EVP Operations role and evaluate internal successors or divisional realignment.

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The people

Who's running this

6 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.

internal

Thomas E. Long

Co-Chief Executive Officer

Executive

6 yr

5 reports

internal

Marshall S. (Mackie) McCrea, III

Co-Chief Executive Officer

Executive

6 yr

1 reports

internal

Gregory G. McIlwain

Executive Vice President Operations

Operations

5 yr

1 reports

internal

Dylan A. Bramhall

Group Chief Financial Officer

Finance

4 yr

2 reports

internal

James M. Wright, Jr.

Executive Vice President, General Counsel and Chief Compliance Officer

Legal

4 yr

0 reports

internal

Aden (Troy) Sturrock

Group Senior Vice President and Controller

Finance

4 yr

0 reports

The pay

Executive compensation

From the most recent DEF 14A Summary Compensation Table. 6 named executive officers disclosed. Bar length scales with total compensation.

Thomas E. Long $20.1M
Base salary
$1.55M
Stock awards
$15.78M
Non-equity incentive
$2.72M
Other
$26K
Fiscal year
FY2025
Source
SEC DEF 14A ↗
Marshall S. (Mackie) McCrea, III $20.1M
Base salary
$1.55M
Stock awards
$15.78M
Non-equity incentive
$2.72M
Other
$26K
Fiscal year
FY2025
Source
SEC DEF 14A ↗
Dylan A. Bramhall $6.2M
Base salary
$689K
Stock awards
$4.49M
Non-equity incentive
$975K
Other
$19K
Fiscal year
FY2025
Source
SEC DEF 14A ↗
James M. Wright, Jr. $5.6M
Base salary
$631K
Stock awards
$4.04M
Non-equity incentive
$885K
Pension change
$-6K
Other
$23K
Fiscal year
FY2025
Source
SEC DEF 14A ↗
Gregory G. McIlwain $1.5M
Base salary
$472K
Stock awards
$615K
Non-equity incentive
$353K
Other
$13K
Fiscal year
FY2025
Source
SEC DEF 14A ↗
Aden (Troy) Sturrock $2.1M
Base salary
$400K
Stock awards
$1.27M
Non-equity incentive
$445K
Other
$22K
Fiscal year
FY2025
Source
SEC DEF 14A ↗

The skin in the game

Beneficial ownership

Insider stock holdings and the company's ownership requirements for executives and directors. Disclosed in the most recent DEF 14A.

HolderShares% of class
Thomas E. Long 2.07M<1%
Marshall S. (Mackie) McCrea, III 5.14M<1%
Dylan A. Bramhall 250K<1%
James M. Wright, Jr. 418K<1%
Gregory G. McIlwain 314K<1%
A. Troy Sturrock 206K<1%

The businesses

How Energy Transfer LP divides the work

3 divisions report into the group CEO. Tile size scales with estimated headcount.

Operations

9K employees

Executive Vice President Operations (Gregory G. McIlwain)

Oversees pipeline, terminal, and storage operations across Energy Transfer’s national footprint.

Finance

1K employees

Group Chief Financial Officer (Dylan A. Bramhall)

Manages financial reporting, capital markets, tax, and treasury functions.

Legal & Compliance

400 employees

EVP, General Counsel (James M. Wright, Jr.)

Handles legal affairs, regulatory compliance, and governance.

The thesis

Why this org is unusual

Energy Transfer’s most distinctive feature is its uncommon two–co-CEO structure, with Thomas E.

Long and Marshall McCrea sharing top authority. This arrangement concentrates operational and financial leadership directly under the co-CEOs rather than a single dominant chief executive.

The structure reinforces Energy Transfer’s divisional operating model: major functions such as operations, finance, and legal report directly to one of the two co-CEOs. Operations is especially prominent, reflecting the company’s pipeline-heavy asset base. The absence of a standalone COO role further emphasizes direct CEO oversight of operating divisions.

  • Dual co-CEO model
  • No standalone COO role

The comparison

How Energy Transfer LP stacks up

Compared with peers like Kinder Morgan and Williams, Energy Transfer’s dual-CEO model is unusual in the midstream sector, where single-CEO structures dominate. Most peers employ a COO or president layer to buffer the CEO from operations. Energy Transfer instead relies on long-tenured internal executives with deep asset …

C-suite size

Energy Transfer LP
6
Kinder Morgan
7
Williams Companies
8
Enterprise Products
6
Plains All American
7

Reporting depth

Energy Transfer LP
3 levels
Kinder Morgan
4 levels
Williams Companies
4 levels
Enterprise Products
4 levels
Plains All American
4 levels

Avg C-suite tenure

Energy Transfer LP
5 yr
Kinder Morgan
6 yr
Williams Companies
5 yr
Enterprise Products
8 yr
Plains All American
5 yr

Has COO / Has CAIO

Energy Transfer LP — no COO — no CAIO
Kinder Morgan ✓ COO — no CAIO
Williams Companies ✓ COO — no CAIO
Enterprise Products — no COO — no CAIO
Plains All American ✓ COO — no CAIO

Current signals

What changed recently

The most significant recent change is the announced 2026 retirement of EVP Operations Gregory McIlwain.

  • departed
    Gregory G. McIlwain EVP Operations

    Announced intention to retire effective April 6, 2026.

    Source
  • departed
    Richard D. Brannon Director

    Resigned from board and audit committee effective October 31, 2025.

    Source

Leadership Timeline

Year-over-year executive structure based on SEC proxy and annual filings.

FY2025
10-K filed 2026-02-19
CEO
Thomas E. Long & Marshall S. McCrea, III
CEO span
3
C-suite
6
Avg tenure
4.8 yr

Stable co-CEO structure with long-tenured internal executives.

Named executive officers (6)
  • Thomas E. Long - Co-CEO since 2019
  • Marshall S. McCrea, III - Co-CEO since 2019
  • Dylan A. Bramhall - CFO since 2021
  • James M. Wright, Jr. - General Counsel since 2021
  • Gregory G. McIlwain - EVP Operations since 2020
  • Aden (Troy) Sturrock - Controller since 2021
FY2024
10-K filed 2025-02-14
CEO
Thomas E. Long & Marshall S. McCrea, III
CEO span
3
C-suite
7
Avg tenure
4.5 yr

Expanded executive group supporting asset growth.

Named executive officers (6)
  • Thomas E. Long - Co-CEO since 2019
  • Marshall S. McCrea, III - Co-CEO since 2019
  • Dylan A. Bramhall - CFO since 2021
  • James M. Wright, Jr. - General Counsel since 2021
  • Gregory G. McIlwain - EVP Operations since 2020
  • Aden (Troy) Sturrock - Controller since 2021
FY2023
10-K filed 2024-02-16
CEO
Thomas E. Long & Marshall S. McCrea, III
CEO span
4
C-suite
8
Avg tenure
4.2 yr

Broader C-suite including LNG and tax leadership.

Named executive officers (6)
  • Thomas E. Long - Co-CEO since 2019
  • Marshall S. McCrea, III - Co-CEO since 2019
  • Dylan A. Bramhall - CFO since 2021
  • Bradford D. Whitehurst - EVP Tax since 2018
  • Thomas P. Mason - EVP LNG since 2018
  • James M. Wright, Jr. - General Counsel since 2021

Year-over-year changes

FY2023 → FY2024

Energy Transfer modestly streamlined its C-suite while maintaining the co-CEO model.

  • CEO span: 4 → 3
  • C-suite size: 8 → 7
  • Avg tenure: 4.2 → 4.5 yr
  • retitled Aden (Troy) Sturrock - Controller (10-K filed 2025-02-14)
FY2024 → FY2025

Leadership remained stable aside from the announced upcoming operations retirement.

  • CEO span: 3 → 3
  • C-suite size: 7 → 6
  • Avg tenure: 4.5 → 4.8 yr
  • departed Gregory G. McIlwain - EVP Operations (was EVP Operations) (10-K filed 2026-02-19)

Frequently Asked Questions

Who is the CEO of Energy Transfer?

Energy Transfer is led by two co-Chief Executive Officers: Thomas E. Long and Marshall S. (Mackie) McCrea, III.

What type of organizational structure does Energy Transfer use?

Energy Transfer uses a divisional structure aligned to its pipeline and energy asset businesses.

How many direct reports does Energy Transfer's CEO have?

Each co-CEO oversees several senior executives, with three primary direct reports shown in the core structure.

How has Energy Transfer's leadership changed recently?

Recent changes include the announced retirement of EVP Operations Gregory McIlwain in 2026 and a board resignation in late 2025.

Does Energy Transfer have a COO?

No. Energy Transfer does not maintain a standalone COO role; operations report directly to the co-CEOs.

Sources

  • 10-K Filing, Feb 2026
  • 8-K Filing, Nov 2025
  • SEC EDGAR: Energy Transfer LP DEF 14A Proxy Statement
  • SEC EDGAR: Energy Transfer LP 10-K Annual Report

Reference

Cite this page

If you reference this page in research, analysis, or news writing, use one of the formats below. Citation includes the SEC filing source where applicable.

APA 7th
Creately. (2026). Energy Transfer LP organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/energy-transfer/
MLA 9th
"Energy Transfer LP Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/energy-transfer/. Accessed .
Chicago 17
Creately. "Energy Transfer LP Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/energy-transfer/.
Original SEC source View on SEC ↗
Energy Transfer LP. 10-K. Filed 2026-02-19. U.S. Securities and Exchange Commission. https://www.sec.gov/Archives/edgar/data/1276187/000127618726000013/et-20251231.htm

Permanent URL: https://creately.com/org-chart/fortune-500/energy-transfer/ · last updated 2026-04-01

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