Pros
Target bases performance and reviews on "leadership dimensions" that empower the employee to lead their own development, soar with their strengths and mitigate opportunities. The format provides for constant self-reflection and observations of self-gaps that causes one to develop professionally faster than they would elsewhere.
Cons
Work-life balance is a problem-especially when management puts a premium on long hours, meetings that take up much of your day, and "busy-work" that takes you away from what is really important--leading your team to exceed goals. Unfortunately in a company this size there is much turnover, at all levels. This causes you to have to "re-prove" yourself to different waves of management about every year or so, and also can play havoc with your career progression as you will get different feedback about your achievements from different leaders.