That seems to be a reference to Thompson's brief tenure as CEO. He was appointed to the post in early January and quickly made management changes and announced layoffs. About 2,000 positions were cut at Yahoo. Those layoffs were a catalyst in triggering Loeb to take action, with the investor arguing that Thompson should not have begun that level of job cuts without having first laid out a more detailed strategy.
Yahoo also had rejected an acquisition offer from Microsoft, which remained a sticking point, including with Loeb, who cited that decision as one in a string of management errors.
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