What exactly does an "executive" at a production studio do?

Question

A lot of times I see people identified in the press as "an executive at XX Studios." What exactly does that mean? Is their work financial reporting? And how much does an executive get paid?

Answer 1

No, they generally put movies together getting the script, the director, crew the set and the rest of the staff in line as well as the money and sets up for the advertisements and so on. They are the money men but they are the ones who get everyone together normally.

Answer 2

Yes, they mainly manage the money. They also decide which films to finance.