Mastercard vs PepsiCo: Founders, CEOs and History
Mastercard was founded in 1966 by Karl Hinke and is led by Michael Miebach. PepsiCo was founded in 1965 by Caleb Bradham, Donald M. Kendall, Herman W. Lay and is led by Ramon Laguarta.
Company facts
Mastercard
- Founded
- 1966
- Headquarters
- Purchase, New York, United States
- Current CEO
- Michael Miebach
- Employees
- 39,800
PepsiCo
- Founded
- 1965
- Headquarters
- Purchase, New York, United States
- Current CEO
- Ramon Laguarta
- Employees
- 306,000
Founders
Mastercard
Karl Hinke
Karl Hinke was an executive at Marine Midland Bank in New York who helped organize the Interbank Card Association in 1966.
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
Mastercard
- Robert W. Selander1997–2010
President and CEO
Selander turned a bank-owned association into an independent public company, completing the 2002 Europay merger and the 2006 NYSE IPO.
Source - Ajay Banga2010–2020
CEO
Banga oversaw a decade of rapid growth, pushed tokenization and digital wallets, and bought Vocalink to enter real-time account-to-account payments. He later became President of the World Bank in 2023.
Source - Michael Miebach2021–present
CEO
Miebach has expanded value-added services to about 41% of net revenue and added Recorded Future and BVNK, extending Mastercard into threat intelligence and stablecoin infrastructure.
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: Mastercard and PepsiCo side by side
1898PepsiCo
Pepsi-Cola Invented in North Carolina
Caleb Bradham formulated the original digestive cola syrup in his drugstore.
1965PepsiCo
Historic Merger of Pepsi-Cola & Frito-Lay
Donald Kendall and Herman Lay created PepsiCo, uniting snacks and soft drinks.
1966Mastercard
Interbank Card Association Takes Shape
A group of U.S. Banks formed the Interbank Card Association to make card acceptance work across institutions rather than inside isolated bank programs.
1968Mastercard
Master Charge Brand Adopted
The association adopted the Master Charge name and interlocking-circle design to give member banks a stronger shared identity. A common brand made the network easier for merchants and consumers to recognize as acceptance expanded beyond local bank programs.
1975PepsiCo
Launch of the Pepsi Challenge
National blind taste tests shook Coca-Cola's market dominance and redefined advertising.
1979Mastercard
Master Charge Becomes MasterCard
The network changed its name from Master Charge to MasterCard as it became more international. The rebrand simplified recognition and helped the company present itself as a global acceptance network rather than a domestic bank-card association.
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.
2001PepsiCo
Acquisition of Quaker Oats & Gatorade ($13.4B)
Acquired Quaker Oats, adding sports hydration pioneer Gatorade to the portfolio.
2002Mastercard
Europay Merger and Corporate Conversion
MasterCard merged with Europay International and converted from a membership association into a private share corporation. That structure prepared the company for public-market ownership and a more independent investment agenda.
2006Mastercard
Initial Public Offering on the NYSE
MasterCard priced its initial public offering at $39 per share and listed on the New York Stock Exchange under the symbol MA.
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.
2017Mastercard
Vocalink Expands Real-Time Payments
Mastercard completed its Vocalink acquisition after announcing a deal for 92.4 percent of the U.K. Payments infrastructure company for about $920 million.
2018PepsiCo
Acquisition of SodaStream ($3.2B) & Ramon Laguarta Appointed CEO
Acquired SodaStream to pioneer eco-friendly dispensing; Ramon Laguarta took over as CEO.
2020Mastercard
Finicity Strengthens Open Banking
Mastercard completed the acquisition of Finicity, a North American financial data and open banking platform. The deal added consumer-permissioned data connectivity for lending, account verification, personal finance, and account-based payment use cases.
2021Mastercard
Michael Miebach Becomes CEO
Michael Miebach became chief executive officer on January 1, 2021 after serving as chief product officer and president.
2021Mastercard
Nets Account-to-Account Business Closes
Mastercard completed the acquisition of the majority of Nets' Corporate Services business, adding clearing and settlement instant payment infrastructure, bill payment, and e-invoicing capabilities.
2022PepsiCo
Strategic Distribution Alliance with Celsius ($550M)
Secured master global distribution for fast-growing energy brand Celsius.
2024Mastercard
Recorded Future Adds Threat Intelligence
Mastercard completed the acquisition of Recorded Future, adding AI-enabled threat intelligence to its cybersecurity, identity, and real-time fraud scoring services.
2025Mastercard
$32.8B FY2025 Net Revenue
Mastercard reported $32.791 billion in FY2025 net revenue and $14.968 billion in net income.
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.
2026Mastercard
BVNK Adds Stablecoin Infrastructure
Mastercard closed its acquisition of stablecoin infrastructure firm BVNK on August 3, 2026, for up to $1.8 billion including contingent payments. The deal extends the company's network to on-chain payments alongside cards and bank transfers.
2026PepsiCo
Price Cuts on Core Snacks
Lowered prices on major Frito-Lay brands by up to 15% to recover US volumes.
Acquisitions
Mastercard
- BVNK2026$1.8B
- Recorded Future2024$2.6B
- Dynamic Yield2022Undisclosed
- Nets account-to-account payment business2021$3.2B
- Ekata2021$850M
- Aiia2021Undisclosed
PepsiCo
- poppi2025$1.9B
- SodaStream International2018$3.2B
- The Quaker Oats Company (including Gatorade)2001$13.4B
- Tropicana Products1998$3.3B
Questions about Mastercard vs PepsiCo
Who is the CEO of Mastercard Incorporated and PepsiCo, Inc.?
Mastercard Incorporated is led by Michael Miebach 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 Mastercard Incorporated founded vs PepsiCo, Inc.?
PepsiCo, Inc. was founded in 1965 — 1 year before Mastercard Incorporated, which was founded in 1966. PepsiCo, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Mastercard Incorporated.
How many employees does Mastercard Incorporated have compared to PepsiCo, Inc.?
Mastercard Incorporated employs approximately 39,800 people, while PepsiCo, Inc. employs approximately 306,000. PepsiCo, Inc. has the larger workforce at 306,000 employees, compared to Mastercard Incorporated's 39,800. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Mastercard Incorporated and PepsiCo, Inc. headquartered?
Both Mastercard Incorporated and PepsiCo, Inc. are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Mastercard Incorporated and PepsiCo, Inc.?
Mastercard Incorporated was founded by Karl Hinke. PepsiCo, Inc. was founded by Caleb Bradham, Donald M. Kendall, Herman W. Lay.
Which company has a longer operating history — Mastercard Incorporated or PepsiCo, Inc.?
PepsiCo, Inc. has been operating for approximately 61 years, making it the more established of the two companies. Mastercard Incorporated has been in operation for around 60 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 Mastercard vs PepsiCo overview