Top-level is being used as a single adjective, so it needs to be hyphenated. Whenever you have a string of words that function as one adjective (as in my two-year-old daughter just ate my proposal, or its just a get-up-and-go kind of morning), the words need to be hyphenated.
In this sentence, as well as other top-level executives is separated by commas, making it commentary outside of the central part of the sentence, which is really about the president. So, in this instance, the subject is the president, which is singular, and so the verb approve needs to be conjugated with as a a singular.
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