No, All File to All File Converter 3000 won't convert from IMG to EXE, because these are two different file formats that aren't related one to the other (eg. JPG to PNG). The software handles documents and most of the images available.
Besides, it's not even possible to transform an image into an EXE unless you use an application that creates a slideshow and then use its own engine to embed the IMG into EXE that will start the slideshow displaying the image you've added. If you refer to that, try ProShow Gold.