Pros
Visionary leadership at the global level has cascaded to sharp, innovative talent as managing directors in the regions. The company is taking well-considered risks to change the organization and strengthen its competitive position. You can walk the halls and feel the energy and excitement. The specific focus on a limited set of major goals has continued for several years now, and the results are starting to show. This is not "flavor of the month" management or backing off what needs to be done if someone complains. There is clear demonstration of integrity at the top, which is a positive trust-building position for me.
Cons
We're still working on improvements to processes and back-end systems to support the changes, especially providing enough pathways of communication and attention to managing resistance to change. Like many companies transitioning from being multi-local to being truly global, we have some challenges in building cultural awareness in order to work together.