Definitions for "Executive producer"
(1) In television, the producer with maximum creative authority, usually the originator of the project and very often the writer. (2) In feature films, title given to one of the producers who is generally involved more in the deal than in the actual production.
See the Producer page.
Controls the power of the purse. Takes care of the business end, but also works with the producer to find talented folks for both the on-screen and off-screen work.
Person responsible for funding the production.
If there is one, he is usually responsible for the financing--either he puts up his own money or he finds the investors.
Senior editorial person on a program or programming unit. Not always a manager per se, s/he nonetheless usually has at least some power over staffing and spending. A news director may have the same, fewer or more responsibilities…depends on the company.