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But the company has steadfastly rejected making any drastic changes to its corporate structure.
The news follows the announcement from Barclays that hundreds of jobs are being lost there under changes to its corporate banking division.
The second-longest-serving chief executive in the FTSE 100, Sorrell hinted that his company might reverse the controversial move of its headquarters from London to Dublin if the new government made appropriate changes to its corporate tax regime.
Late Wednesday, Caterpillar announced changes to its corporate structure and management.
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UBS made some changes to its corporate-governance procedures and announced that four directors would leave its board in October.
The hedge fund has threatened to sue Apple unless it drops a proposed change to its corporate charter that would prevent it from issuing preferred shares.
Disney headed off the proposal by making a key change to its corporate governance guidelines.
Dorner and other HSBC executives scheduled to testify at Tuesday's hearing say the bank has made deep changes to its policies and corporate culture to prevent illicit use of the bank.
To be safe, Philip Morris aims to change its corporate name to Altria to show the public that it's more than a tobacco company.
"It is committing to change its corporate culture to encourage sensitivity to issues of personal data privacy".
Tricon, which owns Pizza Hut, Taco Bell and KFC, also said it was proposing to change its corporate name to Yum Brands Inc., which matches its New York Stock Exchange ticker symbol of YUM.
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