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It depends on whether my exec is open to talking in the future or just wants to avoid it fully. If they would do a call later on, I would say the schedule is full with travel and client commitments, but to reach back out after (add in a specific time frame). If they aren't interested at all, I say the same but offer to find someone else that they can talk to. If they specifically want my exec and not just someone at the company, I again use the same excuse, but instead say I will reach out when it's a better time to set something up (then never do).
I would say something along the lines of :
Dear....,
I hope this email finds you well. Thank you for reaching out and extending an invitation to chat. I appreciate the opportunity and your interest.
Unfortunately, due to my current commitments and workload, I am unable to accept the request at this time. However, I am very interested in connecting and would be delighted to explore opportunities for a discussion in the near future.
Please feel free to reach out again, and I will do my best to accommodate. Thank you for your understanding.
Best regard,
.........