Unchecked arrogance gives a few directors and higher the "God complex" - a former director had been known to make people break down in meetings.
Questionable professionalism - same director asked certain people to work on Christmas Eve (company holiday) because they were a certain religion (not Christian) and their families wouldn't care. I'm not in HR but shouldn't this type of behavior be frowned upon?
Sadly, he may not have even known better, probably because that's how he was treated moving up the ladder. There are many managers who are technically brilliant but poor resource managers.
Like many top-heavy companies, it's almost impossible to get a promotion - you'd have better luck leaving and coming back.
On the flip side of flexible hours is no concept of work-life balance. Of course, this depends entirely on your project and manager, but as a general company philosophy, having meetings at nights and on weekends is par for the course.