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McDonald's vs PepsiCo: Founders, CEOs and History

McDonald's was founded in 1940 by Maurice James McDonald, Richard James McDonald, Ray Kroc and is led by Chris Kempczinski. PepsiCo was founded in 1965 by Caleb Bradham, Donald M. Kendall, Herman W. Lay and is led by Ramon Laguarta.

Company facts

McDonald's

Founded
1940
Headquarters
Chicago, Illinois, United States
Current CEO
Chris Kempczinski
Employees
150,000

PepsiCo

Founded
1965
Headquarters
Purchase, New York, United States
Current CEO
Ramon Laguarta
Employees
306,000

Founders

McDonald's

  • Maurice James McDonald

    Maurice "Mac" McDonald co-founded McDonald's with his brother Richard in 1940, opening a barbecue drive-in in San Bernardino, California.

  • Richard James McDonald

    Richard McDonald co-founded McDonald's and played a leading role in the 1948 redesign that turned a local drive-in into the template for modern fast food.

  • Ray Kroc

    Ray Kroc opened his first McDonald's franchise in Des Plaines, Illinois in 1955 and built the franchising organization that made the brand famous far beyond California.

McDonald's founders in full

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.

PepsiCo founders in full

CEOs and their tenures

McDonald's

  1. Ray Kroc1967–1973

    CEO

    Under Kroc's executive leadership, McDonald's scaled from a regional drive-in licensing experiment into an international enterprise with over 2,500 locations and $1 billion in annual systemwide sales by the end of his CEO tenure in 1973.

    Source
  2. Fred Turner1974–1987

    CEO

    Turner expanded McDonald's from roughly 2,500 restaurants in 1974 to over 10,000 across 45 countries by 1987, multiplying systemwide sales from $1.9 billion to over $14 billion.

    Source
  3. Michael R. Quinlan1987–1998

    CEO

    During Quinlan's 11-year CEO tenure, McDonald's expanded from approximately 10,000 to over 24,000 restaurants globally, and annual systemwide sales rose from $14.3 billion in 1987 to $36 billion in 1998.

    Source
  4. Jack M. Greenberg1998–2002

    CEO

    Greenberg pushed global restaurant count past 30,000, but rapid store expansion cannibalized existing franchisees and kitchen complexity slowed drive-thru service.

    Source
  5. James R. Cantalupo2003–2004

    CEO

    Under Cantalupo's leadership, McDonald's launched the global 'I'm Lovin' It' campaign and introduced premium salads, driving 11 consecutive months of positive same-store sales growth.

    Source
  6. Charlie Bell2004–2004

    CEO

    During Bell's seven-month tenure, McDonald's generated 7.5% global comparable sales growth in 2004, its strongest operational performance in over a decade.

    Source
  7. Jim Skinner2004–2012

    CEO

    Skinner generated roughly 250% total shareholder returns between 2004 and 2012. Annual systemwide sales expanded from $46 billion to $86 billion, McCafé was rolled out internationally, and the company completed the complete divestiture of Chipotle, Boston Mark…

    Source
  8. Don Thompson2012–2015

    CEO

    Rapid menu proliferation complicated kitchen operations and pushed drive-thru wait times to historical highs.

    Source
  9. Steve Easterbrook2015–2019

    CEO

    Easterbrook refranchised over 4,000 company-owned locations to lift franchised ownership from 81% to approximately 93%, expanding operating margin from 29% to 43%.

    Source
  10. Chris Kempczinski2019–present

    CEO

    Since becoming CEO in November 2019, Kempczinski executed the 'Accelerating the Arches' framework, growing FY2025 consolidated revenue to $26.885 billion and net income to $8.563 billion.

    Source
McDonald's CEO history in full

PepsiCo

  1. 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
  2. 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
  3. 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
  4. 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
  5. 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
PepsiCo CEO history in full

Timeline: McDonald's and PepsiCo side by side

  1. 1898PepsiCo

    Pepsi-Cola Invented in North Carolina

    Caleb Bradham formulated the original digestive cola syrup in his drugstore.

  2. 1940McDonald's

    First McDonald's Opens in San Bernardino

    Richard and Maurice McDonald opened the first McDonald's restaurant on May 15, 1940 in San Bernardino, California. The original drive-in gave the brothers a live operating laboratory before they stripped the model down to a faster, lower-cost menu.

  3. 1948McDonald's

    Speedee Service System Introduced

    The brothers simplified operations in 1948 around 15-cent hamburgers, shakes, and fries.

  4. 1955McDonald's

    Ray Kroc Opens Des Plaines Restaurant

    Ray Kroc opened his first McDonald's in Des Plaines, Illinois on April 15, 1955 after becoming the brothers' franchise agent. That restaurant became the base for converting a California operating idea into a national franchise system.

  5. 1961McDonald's

    Hamburger University Opens

    Hamburger University opened in the basement of an Elk Grove Village, Illinois restaurant in 1961. The training program mattered because it formalized the standards and operating routines that franchisees needed to deliver a consistent experience.

  6. 1961McDonald's

    Kroc Buys the Brothers' Company

    McDonald's says it acquired the rights to the brothers' company in 1961 for $2.7 million. The deal gave Kroc control of the name and system, setting up the real estate-backed franchise model that later defined parent-company economics.

  7. 1965PepsiCo

    Historic Merger of Pepsi-Cola & Frito-Lay

    Donald Kendall and Herman Lay created PepsiCo, uniting snacks and soft drinks.

  8. 1968McDonald's

    Big Mac Added to National Menu

    The Big Mac, developed by owner-operator Jim Delligatti of Pittsburgh, was added to the national menu in 1968. It became a durable core product and a recognizable signal of the company's ability to turn franchisee ideas into systemwide menu platforms.

  9. 1975McDonald's

    Egg McMuffin Builds Breakfast

    The Egg McMuffin, created by owner-operator Herb Peterson of Santa Barbara, California, was added to the national menu in 1975. It helped turn breakfast into a major daypart rather than leaving the restaurants dependent on lunch and dinner traffic.

  10. 1975PepsiCo

    Launch of the Pepsi Challenge

    National blind taste tests shook Coca-Cola's market dominance and redefined advertising.

  11. 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.

  12. 1998PepsiCo

    Acquisition of Tropicana ($3.3B)

    Acquired chilled orange juice leader Tropicana to dominate morning beverages.

  13. 2001PepsiCo

    Acquisition of Quaker Oats & Gatorade ($13.4B)

    Acquired Quaker Oats, adding sports hydration pioneer Gatorade to the portfolio.

  14. 2003McDonald's

    I'm Lovin' It Campaign Launches

    McDonald's launched its global "I'm lovin' it" marketing campaign in 2003, its first worldwide brand campaign.

  15. 2006PepsiCo

    Indra Nooyi becomes CEO

    Indra Nooyi became CEO of PepsiCo in 2006. Chief executive of PepsiCo from 2006 to 2018.

  16. 2011PepsiCo

    Wimm-Bill-Dann Acquired

    PepsiCo completed its acquisition of the Russian dairy and juice company Wimm-Bill-Dann in 2011.

  17. 2017McDonald's

    Global McDelivery Day with UberEATS

    McDonald's marked Global McDelivery Day in 2017 to support the broader launch of McDelivery with UberEATS. Delivery expanded restaurant reach beyond the counter and drive-thru, while also adding packaging, marketplace-fee, and kitchen-throughput challenges.

  18. 2018PepsiCo

    Acquisition of SodaStream ($3.2B) & Ramon Laguarta Appointed CEO

    Acquired SodaStream to pioneer eco-friendly dispensing; Ramon Laguarta took over as CEO.

  19. 2019McDonald's

    Dynamic Yield Acquisition

    McDonald's agreed to acquire Dynamic Yield in 2019 to personalize drive-thru menu boards, kiosks, and app experiences using signals such as time of day, weather, restaurant traffic, and trending items.

  20. 2022PepsiCo

    Strategic Distribution Alliance with Celsius ($550M)

    Secured master global distribution for fast-growing energy brand Celsius.

  21. 2024McDonald's

    Quarter Pounder E. Coli Outbreak

    U.S. Public health agencies linked a 2024 E. Coli outbreak to slivered onions served on McDonald's Quarter Pounders in affected states.

  22. 2025McDonald's

    $26.9B FY2025 Revenue

    McDonald's reported $26.885 billion in FY2025 revenue and $8.563 billion in net income.

  23. 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.

  24. 2026PepsiCo

    Price Cuts on Core Snacks

    Lowered prices on major Frito-Lay brands by up to 15% to recover US volumes.

Acquisitions

McDonald's

  • Dynamic Yield2019$300M
  • Apprente2019Undisclosed
  • Boston Market2000$173.5M
  • Donatos Pizza1999Undisclosed
  • Chipotle Mexican Grill stake1998Undisclosed
All McDonald's acquisitions

PepsiCo

  • poppi2025$1.9B
  • SodaStream International2018$3.2B
  • The Quaker Oats Company (including Gatorade)2001$13.4B
  • Tropicana Products1998$3.3B
All PepsiCo acquisitions

Questions about McDonald's vs PepsiCo

Who is the CEO of McDonald's Corporation and PepsiCo, Inc.?

McDonald's Corporation is led by Chris Kempczinski 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 McDonald's Corporation founded vs PepsiCo, Inc.?

McDonald's Corporation was founded in 1940 — 25 years before PepsiCo, Inc., which was founded in 1965. McDonald's Corporation'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 McDonald's Corporation have compared to PepsiCo, Inc.?

McDonald's Corporation employs approximately 150,000 people, while PepsiCo, Inc. employs approximately 306,000. PepsiCo, Inc. has the larger workforce at 306,000 employees, compared to McDonald's Corporation's 150,000. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).

Where are McDonald's Corporation and PepsiCo, Inc. headquartered?

Both McDonald's Corporation and PepsiCo, Inc. are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.

Who founded McDonald's Corporation and PepsiCo, Inc.?

McDonald's Corporation was founded by Maurice James McDonald, Richard James McDonald, Ray Kroc. PepsiCo, Inc. was founded by Caleb Bradham, Donald M. Kendall, Herman W. Lay.

Which company has a longer operating history — McDonald's Corporation or PepsiCo, Inc.?

McDonald's Corporation has been operating for approximately 86 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 McDonald's vs PepsiCo overview

Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.