1986 Milestones

• Wayne Calloway becomes chairman of the Board of Directors and chief executive officer in May when Donald M. Kendall retires.
• The corporation is reorganized and decentralized. Beverage operations are combined under PepsiCo Worldwide Beverages; snack food operations are combined under PepsiCo Worldwide Foods.
• Shareholders approve reincorporation of PepsiCo in North Carolina.
• PepsiCo stock splits three-for-one.
• PepsiCo purchases Kentucky Fried Chicken, the leader in the quick service chicken market. KFC was founded by Colonel Harland Sanders. Colonel Sanders began franchising the company in 1952. KFC is spun off along with Pizza Hut and Taco Bell businesses as Tricon Global Restaurants, Inc. in 1997.
• PepsiCo purchases 7Up International, the third largest franchise soft drink operation outside the United States.
• PepsiCo passes $10 billion in sales.
• PepsiCo is listed on the Tokyo stock exchange.
• Chester Cheetah makes his prime-time television debut for Frito-Lay with a fully animated commercial for Cheetos cheese flavored snacks.
• "Dew it Country Cool" becomes new slogan for Mountain Dew.
• Diet Pepsi gets a new logo.
• Pepsi-Cola acquires Mug Root Beer.
• Pepsi-Cola sponsors the first Western-produced consumer commercial in the Soviet Union, appearing during the Goodwill Games.
• PepsiCo Board of Directors visits the People's Republic of China to mark the opening of Pepsi's second bottling plant in China.
• Frito-Lay introduces Santitas brand restaurant style tortilla chips.