Huge senior and middle manager turnover, with frequent changes of direction, no continuity and fearful employees.
Pros
The underlying business is relatively stable and profitable, especially in Europe. As a regulated business, products that are sold in Europe can be sold almost every where in he world. So globalising the brands has been a successful focus. The whole OTC/ Self Medication model is supported by governments to reduce their own healthcare costs by encouraging consumers to buy their own medicines themselves. By and large the people are smart and self starters.
Cons
Nike school of management 'Just Do It'. Top management is based in the US, but gets distracted by its local business model. Which in the US case is pure retail, with high sales but low earnings. However, every where else the model is pharmacy based with regulated products, higher barriers to entry and greater business sustainability and much much better financials. Politicised decision making.
