For the most effective weekly team meeting, your executive team should consist of 8-10 people. If your group is too large, consider who truly should be part of the executive team meeting. Perhaps some people should participate at the departmental team-level weekly meeting only.
Also, the executive team should be using your Quarterly Plan as the framework for the meeting. The plan should consist of 3-5 Company Priorities and 3-5 Personal Priorities each. Owners of those Priorities should have statused them Red, Yellow or Green prior to the Weekly Meeting.