September 10, 2009:

The new CEO lies.

His mission is to sell the company.
This was previously his mission at earlier firms, and he lied to them, too.

He's an expert in selling companies at prices attractive to institutional investors.
He'll grow the top line through acquisition,
shrink the bottom line by abandoning quality,
all the while lying mightily to everyone in earshot that his true aim is strategic,
until the last possible moment when the papers are signed and the investors are paid and happy.

The profound mediocrity of his crew is simply a corollary.
He doesn't need talented seconds.
Only loyal ones.