Hershey vs Toyota: Founders, CEOs and History
Hershey was founded in 1894 by Milton S. Hershey and is led by Kirk Tanner. Toyota was founded in 1937 by Kiichiro Toyoda, Sakichi Toyoda and is led by Kenta Kon.
Company facts
Founders
Hershey
Milton S. Hershey
The Hershey Company possesses arguably the most well-known, utopian founding story in American industrial history, rooted in the persistence of a man who failed notably before inventing the modern American chocolate industry.
Toyota
Kiichiro Toyoda
Kiichiro Toyoda (1894-1952) founded the Toyota Motor Corporation in 1937, spinning it out of his father's successful textile machinery business.
Sakichi Toyoda
Sakichi Toyoda was not the founder of Toyota Motor Corporation but his inventions and philosophy created the foundation on which it was built. His loom patents generated the capital Kiichiro needed to experiment with automobiles.
CEOs and their tenures
Hershey
- David J. West2007–2011
President and CEO
He left in 2011 and John Bilbrey succeeded him.
Source - John P. Bilbrey2011–2017
President and CEO
He retired in 2017 and Michele Buck succeeded him.
Source - Michele Buck2017–2025
Former Chief Executive Officer
Buck is universally credited with modernizing the historic chocolate company, transforming it into a diversified, resilient snacking empire capable of sustaining long-term growth.
Source - Kirk Tanner2025–present
Chief Executive Officer
While his tenure is just beginning Tanner is tasked with proving that Hershey's recent transition into a diversified 'snacking leader' can be integrated and scaled globally.
Source
Toyota
- Katsuaki Watanabe2005–2009
President
Toyota became the largest carmaker in the world by sales in 2008, then reported its first operating loss in decades. Akio Toyoda succeeded him in June 2009.
Source - Akio Toyoda2009–2023
President and Chief Executive Officer (now Chairman)
Akio Toyoda took leadership during one of Toyota's hardest modern periods, including the global financial crisis and the unintended acceleration recall crisis.
Source - Koji Sato2023–2026
President and Chief Executive Officer (now Vice Chairman)
Koji Sato inherited a profitable but scrutinized Toyota.
Source - Kenta Kon2026–present
President and Chief Executive Officer
As CFO, he managed the immense capital allocation required for Toyota's massive $35 billion commitment to fully electrify its vehicle lineup by 2030.
Source
Timeline: Hershey and Toyota side by side
1894Hershey
Founding of Hershey Chocolate Company
Milton S. Hershey founded the Hershey Chocolate Company as a subsidiary of the Lancaster Caramel Company, initially producing chocolate coatings for his caramels before recognizing the potential of solid milk chocolate.
1900Hershey
Sale of Lancaster Caramel Company
Milton S. Hershey sold the Lancaster Caramel Company for $1 million to focus entirely on the chocolate business, retaining the chocolate department and the rights to the milk chocolate formula he had developed.
1903Hershey
Construction of the Hershey Factory
Construction began on the Hershey Chocolate factory in Derry Township, Pennsylvania, designed to be the most advanced chocolate manufacturing facility in the world, utilizing continuous-flow production systems.
1907Hershey
Introduction of Hershey's Kisses
The company launched the Hershey's Kiss, a small, teardrop-shaped piece of chocolate that was individually wrapped in a thin strip of foil, becoming one of the most well-known and recognizable confectionery products in history.
1928Hershey
Introduction of Mr. Goodbar
Hershey launched Mr. Goodbar, a milk chocolate bar packed with roasted peanuts, which became a commercial success and established the company's dominance in the combination chocolate bar category.
1937Toyota
Toyota Motor Corporation incorporated
Toyota Motor Corporation was incorporated after Kiichiro Toyoda expanded the Toyoda family business from automatic looms into automobile manufacturing.
1938Hershey
Introduction of Krackel
The company introduced Krackel, a milk chocolate bar with crisped rice, expanding its portfolio of everyday chocolate bars and using its manufacturing expertise in rice processing.
1955Toyota
Toyopet Crown launched
The Toyopet Crown gave Toyota a postwar passenger-car platform and later became its first passenger car exported to the United States.
1963Hershey
Introduction of Reese's Peanut Butter Cups
While Reese's was founded earlier, Hershey acquired the brand in 1963, a move that would eventually create the company's largest and most profitable franchise, generating over $3 billion in annual retail sales today.
1966Toyota
Corolla launched
Toyota launched the Corolla, a compact car that became central to its mass-market export strategy.
1989Toyota
Lexus launches
Toyota launched Lexus with the LS 400, moving into premium vehicles with a quality-led strategy.
1996Hershey
Acquisition of Leaf Inc.
Hershey acquired Leaf Inc., adding well-known brands like Jolly Rancher, Whoppers, and Milk Duds to its portfolio, significantly expanding its presence in the non-chocolate confectionery market.
1997Toyota
Prius launches in Japan
Toyota launched the Prius, turning hybrid technology into a mass-produced passenger vehicle.
2008Toyota
Largest Carmaker by Sales
Toyota passed General Motors in 2008 to become the largest carmaker in the world by sales.
2009Toyota
Unintended Acceleration Recalls
Toyota recalled millions of vehicles from late 2009 over floor mats and accelerator pedals linked to unintended acceleration.
2016Toyota
Acquired Daihatsu Motor Co., Ltd.
Toyota Motor acquired Daihatsu Motor Co., Ltd..
2017Hershey
Michele Buck Appointed CEO
Michele Buck was appointed CEO, initiating a rigorous strategic transformation plan focused on portfolio diversification, manufacturing modernization, and supply chain resilience, which drove the company's success in navigating record cocoa inflation.
2021Hershey
Acquisition of Dot's Homestyle Pretzels
Hershey acquired Dot's Homestyle Pretzels for about $1.2 billion and its manufacturing partner Pretzels Inc. in December 2021, expanding its salty snack segment.
2021Toyota
Acquired Lyft Level 5
Toyota Motor acquired Lyft Level 5 for $550 million.
2021Toyota
Acquired CARMERA
Toyota Motor acquired CARMERA.
2024Hershey
Record Net Income Before Cocoa Shock
Hershey reported $11.20 billion in 2024 net sales and record net income of $2.22 billion, before record cocoa costs hit 2025 results. In December 2024, reports said Mondelez had again approached Hershey about a deal; no transaction followed.
2025Hershey
Kirk Tanner Becomes CEO
Former Wendy's CEO Kirk Tanner succeeded Michele Buck as President and CEO on August 18, 2025. Hershey closed the LesserEvil acquisition in November 2025 and reported $11.69 billion in 2025 net sales.
2026Toyota
Kenta Kon becomes president and CEO
Kenta Kon became president and CEO on April 1, 2026, while Koji Sato moved to vice chairman and chief industry officer.
2026Toyota
FY2026 sales revenues reach ~$340B (JPY 50.685T)
Toyota reported FY2026 sales revenues of ~$340 billion (JPY 50,684.952 billion) and net income attributable to Toyota Motor Corporation of ~$25.8 billion (JPY 3,848.098 billion).
Acquisitions
Hershey
- LesserEvil2025$750M
- Dot's Homestyle Pretzels2021$1.2B
- Lily's Sweets2021$425M
- Amplify Snack Brands2018$1.6B
Toyota
- Lyft Level 52021$550M
- CARMERA2021Undisclosed
- Renovo Motors2021Undisclosed
- Daihatsu Motor Co., Ltd.2016Undisclosed
- Toyota Auto Body2012Undisclosed
Questions about Hershey vs Toyota
Who is the CEO of The Hershey Company and Toyota Motor Corporation?
The Hershey Company is led by Kirk Tanner and Toyota Motor Corporation is led by Kenta Kon. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was The Hershey Company founded vs Toyota Motor Corporation?
The Hershey Company was founded in 1894 — 43 years before Toyota Motor Corporation, which was founded in 1937. The Hershey Company's longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Toyota Motor Corporation.
How many employees does The Hershey Company have compared to Toyota Motor Corporation?
The Hershey Company employs approximately 19,595 people, while Toyota Motor Corporation employs approximately 375,235. Toyota Motor Corporation has the larger workforce at 375,235 employees, compared to The Hershey Company's 19,595. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are The Hershey Company and Toyota Motor Corporation headquartered?
The Hershey Company is headquartered in United States and Toyota Motor Corporation is headquartered in Japan. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded The Hershey Company and Toyota Motor Corporation?
The Hershey Company was founded by Milton S. Hershey. Toyota Motor Corporation was founded by Kiichiro Toyoda, Sakichi Toyoda.
Which company has a longer operating history — The Hershey Company or Toyota Motor Corporation?
The Hershey Company has been operating for approximately 132 years, making it the more established of the two companies. Toyota Motor Corporation has been in operation for around 89 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 Hershey vs Toyota overview