Pros
Nice work environment - open office, badminton court, ping-pong, foosball table. Friendly colleagues. Can work from home and have some flexibility in work hours.
Cons
Unfortunately the new CEO doesn't know much about the business and industry. He has an enormous ego and will not listen to anyone else. People who doesn't bow down to his "great ideas" tend to be fired first, often citing lack of "culture fit". The logic is like this: rules are created to define the "culture", anyone who doesn't obey will be judged as not "fitting into the culture" and should be let go. In contrast, people who constantly suck up the CEO gets to stay even with poor work performance and irrelevant career backgrounds. Newcomers beware: Do not speak ill of the CEO - he's got at least one "close associate" in every department who will report you.