Pros

Product and the people other than the CEO and a couple of other executives.

Cons

The CEO and his trusty sidekick...If you are far enough down in the organization, you are not likely to feel their wrath. If you are at a manager or executive level, look out. There is no strategic vision for the company and whenever something goes wrong one of these two will point the finger. Everything is done at the whim of the CEO. Instead of a leadership team working together, the executives become conditioned to survive for their existence. Most are terminated before they can leave on their own. For those lower in the organization there is virtually no communication or leadership provided because their managers are doing all they can to survive and keep their own jobs.

Advice to Senior Management

Convince the other owner to replace the CEO. As that is unlikely, find a new job.