Bayer vs PepsiCo: Founders, CEOs and History
Bayer was founded in 1863 by Friedrich Bayer, Johann Friedrich Weskott and is led by Bill Anderson. PepsiCo was founded in 1965 by Caleb Bradham, Donald M. Kendall, Herman W. Lay and is led by Ramon Laguarta.
Company facts
Founders
Bayer
Friedrich Bayer
Bayer was founded in 1863 in Barmen, now part of Wuppertal, Germany, by two men with complementary skills: Friedrich Bayer, a dye merchant, and Johann Friedrich Weskott, a master dyer.
Johann Friedrich Weskott
Johann Friedrich Weskott was a German master dyer who co-founded what became Bayer. In 1863 he and his friend Friedrich Bayer, a dye salesman, formed Friedr. Bayer et comp. in Barmen, now part of Wuppertal, Germany.
PepsiCo
Caleb Bradham
Caleb Bradham created "Brad's Drink" at his New Bern pharmacy in 1898, renamed it Pepsi-Cola and incorporated the Pepsi-Cola Company in 1902.
Donald M. Kendall
Donald M. Kendall led Pepsi-Cola and engineered its 1965 merger with Frito-Lay to form PepsiCo, which he ran as CEO until 1986.
Herman W. Lay
Herman W. Lay (1909-1982) started his career as a snack food salesman. In 1932, he opened a snack food operation in Nashville, Tennessee, eventually purchasing the manufacturer and renaming it H.W. Lay & Company.
CEOs and their tenures
Bayer
- Werner Wenning2002–2010
Chief Executive Officer and Chairman of the Board of Management
Wenning led Bayer from April 2002 to September 30, 2010. He took over months after the worldwide withdrawal of the cholesterol drug Baycol and spent his early years settling the claims that followed.
Source - Marijn Dekkers2010–2016
Chief Executive Officer and Chairman of the Board of Management
Dekkers was CEO from October 1, 2010 to April 30, 2016 and the first Bayer chief executive hired from outside the company. He narrowed Bayer to life sciences: in 2014 Bayer bought the consumer care business of Merck and Co.
Source - Werner Baumann2016–2023
Chief Executive Officer and Chairman of the Board of Management
Baumann became CEO in May 2016 and retired at the end of May 2023 after 35 years at Bayer. His defining decision was the acquisition of Monsanto, completed on June 7, 2018 at USD 128 per share, about USD 63 billion in total.
Source - Bill Anderson2023–present
Chief Executive Officer and Chairman of the Board of Management
Anderson, a chemical engineer who previously ran Roche's pharmaceuticals division and Genentech, joined Bayer's Board of Management on April 1, 2023 and became CEO on June 1, 2023.
Source
PepsiCo
- D. Wayne Calloway1986–1996
Chief Executive Officer
He more than doubled PepsiCo's revenues during his tenure and heavily invested in the restaurant division before it was later spun off.
Source - Roger Enrico1996–2001
Chief Executive Officer
He dramatically simplified the company's structure, allowing it to focus resources on its core grocery and convenience store distribution networks.
Source - Steven Reinemund2001–2006
Chief Executive Officer
He oversaw significant international expansion and revenue growth, setting a strong operational foundation before handing leadership to Nooyi.
Source - Indra Nooyi2006–2018
Chief Executive Officer
Under her 12-year tenure as CEO, PepsiCo's revenue grew by more than 80%, and she fundamentally reshaped the company's identity from a junk-food purveyor to a diversified global food and beverage giant.
Source - Ramon Laguarta2018–present
Chairman of the Board & Chief Executive Officer
He sustained strong organic revenue growth and protected operating margins through historically challenging supply chain conditions, while committing the company to major sustainability and packaging reduction goals.
Source
Timeline: Bayer and PepsiCo side by side
1863Bayer
Bayer Founded in Barmen, Germany
Friedrich Bayer and Johann Friedrich Weskott entered Friedrich Bayer et. Compagnie into the commercial register in Barmen, Germany, on August 1, 1863, to make synthetic fuchsine and aniline dyes for the textile industry using the new coal-tar chemistry.
1898Bayer
Heroin Marketed as a Cough Suppressant
Bayer began selling diacetylmorphine under the trademark Heroin as a cough suppressant and a supposedly non-addictive substitute for morphine. It stayed in Bayer's range until after World War I, long after its addictiveness was understood.
1898PepsiCo
Pepsi-Cola Invented in North Carolina
Caleb Bradham formulated the original digestive cola syrup in his drugstore.
1899Bayer
Aspirin Registered as a Trademark
The Bayer chemist Felix Hoffmann had synthesized acetylsalicylic acid in a stable, pure form in 1897, and Bayer registered the trademark Aspirin on March 6, 1899. It became the first mass-market synthetic medicine and is still one of the most widely used.
1903Bayer
Veronal Barbiturate Sleep Aid Launched
Bayer licensed diethylbarbituric acid from Emil Fischer and Joseph von Mering and sold it as Veronal, the first barbiturate sleep aid.
1912Bayer
Headquarters Moved to Leverkusen
Under Carl Duisberg, Bayer moved its main chemical plant and head office to Leverkusen on the Rhine, building one of the largest industrial chemical sites in Europe. Leverkusen is still the group headquarters.
1918Bayer
US Assets Confiscated During World War I
Bayer's US assets and trademarks, including the Aspirin trademark, were confiscated by the Alien Property Custodian and sold to Sterling Products. Bayer lost its largest export market and the right to its own name in North America for decades.
1925Bayer
Merger into IG Farben
Bayer merged with BASF, Hoechst, Agfa and other German chemical companies to form IG Farbenindustrie AG, then the largest chemical and pharmaceutical group in the world. IG Farben's role in the Nazi war effort led the Allies to dissolve it after World War II.
1932Bayer
Prontosil Discovered by Gerhard Domagk
Gerhard Domagk, leading a research team in the Bayer laboratories, developed Prontosil, the first sulfonamide antibacterial and the forerunner of modern antibiotics. He was awarded the Nobel Prize in Physiology or Medicine in 1939 for the work.
1951Bayer
Re-established After the IG Farben Dissolution
Bayer was reincorporated as Farbenfabriken Bayer AG in 1951 after the Allied dissolution of IG Farben and rebuilt as an independent chemical and pharmaceutical company during West Germany's post-war recovery.
1965PepsiCo
Historic Merger of Pepsi-Cola & Frito-Lay
Donald Kendall and Herman Lay created PepsiCo, uniting snacks and soft drinks.
1975PepsiCo
Launch of the Pepsi Challenge
National blind taste tests shook Coca-Cola's market dominance and redefined advertising.
1994Bayer
US Bayer Trademark Rights Reclaimed
Bayer bought Sterling Winthrop's over-the-counter drug business from SmithKline Beecham for about USD 1 billion, recovering the US and Canadian rights to the Bayer name and the Bayer Cross confiscated in 1918, plus the Aspirin trademark in Canada.
1997PepsiCo
Restaurant Business Spun Off
PepsiCo spun off its restaurant businesses (Pizza Hut, Taco Bell and KFC) as Tricon Global Restaurants, now Yum! Brands, in 1997.
1998PepsiCo
Acquisition of Tropicana ($3.3B)
Acquired chilled orange juice leader Tropicana to dominate morning beverages.
2001Bayer
Baycol Withdrawn Worldwide
Bayer voluntarily withdrew its cholesterol drug Baycol, sold as Lipobay outside the United States, in August 2001 after cases of fatal rhabdomyolysis, particularly at higher doses and in combination with gemfibrozil.
2001PepsiCo
Acquisition of Quaker Oats & Gatorade ($13.4B)
Acquired Quaker Oats, adding sports hydration pioneer Gatorade to the portfolio.
2006Bayer
Schering AG Acquired for About EUR 17 Billion
Bayer acquired Schering AG of Berlin for about $19.2 billion (EUR 17 billion) after counter-bidding against a hostile approach from Merck KGaA, adding the Mirena contraceptive franchise, oncology assets and a European pharmaceutical sales force.
2006PepsiCo
Indra Nooyi becomes CEO
Indra Nooyi became CEO of PepsiCo in 2006. Chief executive of PepsiCo from 2006 to 2018.
2011PepsiCo
Wimm-Bill-Dann Acquired
PepsiCo completed its acquisition of the Russian dairy and juice company Wimm-Bill-Dann in 2011.
2014Bayer
Merck Consumer Care Acquired for USD 14.2 Billion
Bayer closed the purchase of the consumer care business of Merck and Co. on October 1, 2014 for USD 14.2 billion in cash, adding Claritin, Coppertone and Dr. Scholl's and making Bayer one of the largest non-prescription medicine companies in the world.
2015Bayer
Covestro Spin-off
Bayer listed its materials science division as Covestro through an IPO on the Frankfurt Stock Exchange, ending its presence in plastics and polymers and leaving a group focused on pharmaceuticals, consumer health and crop science.
2018Bayer
Monsanto Acquisition Completed for About USD 63 Billion
Bayer completed the acquisition of Monsanto on June 7, 2018, paying USD 128 per share, about USD 63 billion in total, the largest foreign acquisition by a German company.
2018PepsiCo
Acquisition of SodaStream ($3.2B) & Ramon Laguarta Appointed CEO
Acquired SodaStream to pioneer eco-friendly dispensing; Ramon Laguarta took over as CEO.
2020Bayer
USD 10.9 Billion Roundup Settlement
Bayer agreed to pay about USD 10.9 billion to settle roughly 113,000 Roundup claims while continuing to maintain that glyphosate does not cause cancer. The programme did not end the litigation and new claims kept arriving.
2022PepsiCo
Strategic Distribution Alliance with Celsius ($550M)
Secured master global distribution for fast-growing energy brand Celsius.
2023Bayer
Bill Anderson Becomes CEO
Werner Baumann retired at the end of May 2023 after 35 years at Bayer. Bill Anderson, previously head of Roche's pharmaceuticals division and of Genentech, joined the Board of Management in April and became CEO on June 1, 2023.
2024Bayer
Dynamic Shared Ownership Rolled Out
Bayer began introducing the Dynamic Shared Ownership operating model, replacing layers of middle management with self-directed teams.
2025Bayer
Nubeqa Approved in the US for Metastatic Castration-Sensitive Prostate Cancer
The FDA approved Nubeqa (darolutamide) in June 2025 for metastatic castration-sensitive prostate cancer, a third indication, followed by EU authorization in July 2025.
2025PepsiCo
poppi Acquisition and Elliott-Backed Plan
Closed the $1.95 billion poppi deal and announced a North America cost and pricing reset in December.
2026Bayer
Supreme Court Preemption Ruling and Proposed USD 7.25 Billion Roundup Class Settlement
In February 2026 Monsanto proposed a US nationwide class settlement funded by declining annual payments of up to USD 7.25 billion over as long as 21 years, which received preliminary approval in March 2026.
2026PepsiCo
Price Cuts on Core Snacks
Lowered prices on major Frito-Lay brands by up to 15% to recover US volumes.
Acquisitions
Bayer
- Monsanto Company2018$63B
- Merck Consumer Care2014$14.2B
- Schering AG2006$21.2B
- Sterling Winthrop OTC Business1994$1B
PepsiCo
- poppi2025$1.9B
- SodaStream International2018$3.2B
- The Quaker Oats Company (including Gatorade)2001$13.4B
- Tropicana Products1998$3.3B
Questions about Bayer vs PepsiCo
Who is the CEO of Bayer AG and PepsiCo, Inc.?
Bayer AG is led by Bill Anderson and PepsiCo, Inc. is led by Ramon Laguarta. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Bayer AG founded vs PepsiCo, Inc.?
Bayer AG was founded in 1863 — 102 years before PepsiCo, Inc., which was founded in 1965. Bayer AG's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger PepsiCo, Inc..
How many employees does Bayer AG have compared to PepsiCo, Inc.?
Bayer AG employs approximately 88,078 people, while PepsiCo, Inc. employs approximately 306,000. PepsiCo, Inc. has the larger workforce at 306,000 employees, compared to Bayer AG's 88,078. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Bayer AG and PepsiCo, Inc. headquartered?
Bayer AG is headquartered in Germany and PepsiCo, Inc. is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Bayer AG and PepsiCo, Inc.?
Bayer AG was founded by Friedrich Bayer, Johann Friedrich Weskott. PepsiCo, Inc. was founded by Caleb Bradham, Donald M. Kendall, Herman W. Lay.
Which company has a longer operating history — Bayer AG or PepsiCo, Inc.?
Bayer AG has been operating for approximately 163 years, making it the more established of the two companies. PepsiCo, Inc. has been in operation for around 61 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Bayer vs PepsiCo overview