An Executive Producer (EP) is an individual who traditionally brings approximately 25% of the budget to the table when developing a DGA studio feature film.
However, that is a guideline and not necessarily a rigid rule and there may be several Executive Producers responsible for various contributions in addition to money. EPs may also bring Hollywood clout, star talent, and name recognition to a production.
For example, recently on the feature film Vox Lux, stars Natalie Portman and Jude Law also served as EPs along with Sia, who wrote songs for the film. EPs are typically top of the food chain on films and they should understand almost everything about the filmmaking process.
Sadly, many of them are brought on to the film for financial support while they know very little about the nuts-and-bolts of filmmaking. That’s OK if they populate their team with able-bodied and skilled filmmakers who actually know how to make movies.