The hit films released during Grey's tenure included "Transformers", "Paranormal Activity", the Iron Man franchises, "Star Trek", "Shrek the Third", "Mission: Impossible III", "Mission: Impossible - Ghost Protocol", and "The Curious Case of Benjamin Button".
As a movie producer, his credits include Martin Scorsese's Oscar-winner "The Departed" and Tim Burton's "Charlie and the Chocolate Factory". A memorial service will be scheduled in the coming weeks, the family said.
Prior to his time at Paramount, Grey had a successful career as a manager, which, with partner Bernie Brillstein, he parlayed into a powerhouse production company, Brillstein-Grey Entertainment.
Born in NY in 1957, Grey started out in the entertainment business as an assistant to Harvey Weinstein, who was then a concert promoter. He wrote on Twitter that Grey "was always good to me, in the small passing moments we had". His first client was comedian Bob Saget, and his partnership with comics, including the late Garry Shandling, helped make his name in the business. "Kind & classy and a helluva boss".
"Guardians Of The Galaxy" director James Gunn was among those who mourned the loss of Grey on social media. "Oh man the world has lost a gentleman".
Grey is survived by his wife Cassandra and their son Jules, born in 2015; his grown children Sam, Max and Emily from his marriage to Jill (nee Gutterson) Grey, whom he met at Buffalo; his mother Barbara; his brother Michael; and his sister Robin.