Pros

It used to be the people, but slowly they are leaving and now this is just another corporate looking after it's shareholders.

Cons

The company is too Belgian centric. It needs to embrace it's multi national employees.
There is no accountability.
Mergers and acquistions have not been successful.

Advice to Senior Management

Leave Belgium! Ok, don't be so drastic, but acknowledge there are other more innovative countries and people. Do a deep clean of the "lifers" who stay around to pick up their pensions. Bring in some new people and ideas and freshen things up.
What is the return on investment on the research work done?