The Foundation is administered by a 15-member Board of Directors*, as Aristotle Onassis specified in his will.

The Board of Directors makes decisions by majority vote, except in cases where the Statutes of the Foundation dictate otherwise. The Board of Directors convenes in regular meetings that are held in the Foundations headquarters in Vaduz, Lichtenstein.

The first members (life members) of the Board of Directors, whom Aristotle Onassis named in his will in 1975, were for the most part his trusted collaborators and business associates. Today, only two of the original 15 life members of the board of directors continue in their positions in the Board of Directors: Mr. Pavlos I. Ioannidis and Mr. Paraskevas Ioannidis. The members of the Board of Directors, whom Aristotle Onassis did not name in his will, are elected for a certain period of time by the Board itself, in accordance with the stipulated criteria.

The President and officers of the Board of Directors are elected on a yearly basis and may all be re-elected by the Board by majority vote. 

*The Alexander S. Onassis Public Benefit Foundation and the Alexander S. Onassis Foundation (Business Foundation) have the same members of the Board of Directors.