Here's my solution:
(define (execute expr)
(lambda (x)
(let recur ((expr expr))
(case expr
((x) x)
((+) +)
((-) -)
((*) *)
((/) /)
(else
(if (list? expr)
(apply (recur (car expr)) (map recur (cdr expr)))
expr))))))
Example usage:
> (define foo (execute '(* (+ 1 x) (- x (* 2 3)))))
> (foo 42)
=> 1548