Low pay. One big con is/was that CEO listens to those who are outspoken. This is also proportional to the loudness. People easily manipulate him( what I don't know is if he managed to see this blind spot yet - by yet I mean the hard way).
And because most of the decisions are kept under them many decision are not always correct.
The highest management has larger trust ratio on people who stay longest to the company(illogical but understandable).
They also need to see through the politics and local comfort of senior people(not all but many) for which they manipulate workforce.