Former employees say the reorganization has failed to address widespread concerns that the agency is falling behind in exploiting private-sector technological breakthroughs.

Kobayakawa said the reorganization will not be possible without a finding a partner.

Several Wall Street analysts said the reorganization emphasizes Decker's growing power at Yahoo.

He said the reorganization would "take costs out, increase profitability and improve our market position".

Musk said the reorganization did not affect hourly assembly-line employees and was not expected to delay manufacturing targets.

Coty said the reorganization will take effect after it completes the acquisition of 43 Procter & Gamble Co beauty brands.

SNC declined to comment on the analysts' reports, saying the reorganization was the first step of the company's new strategic direction.

A Medtronic spokesman said the reorganization was about strategy, not cost-cutting, and would have a "minimal impact" on jobs.

Coty said the reorganization will take effect after the completion of the acquisition of P&G brands, expected in the second half of 2016.

It said the reorganization plan would let it reduce debt to about $450 million, and has won approval from nearly all lenders and bondholders.

Westin said the reorganization was all the more important now that ABC's "World News With Charles Gibson" was enjoying a run at first place.

Stephen Cooper, MGM's co-chief executive, in a statement said the reorganization will improve MGM's finances by "sharply reducing" debt and providing access to new capital.

Roosevelt told Congress the new name was "more descriptive of its major purpose." He also said the reorganization would save $15 million to $20 million.