mormon pepsi ownership
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Mormons
Mormons are a religious and cultural group related to Mormonism, the principal branch of the Latter Day Saint movement started by Joseph Smith in upstate New York during the 1820s. After Smith’s death in 1844 the movement split into several groups following different leaders; the majority followed Brigham Young, while smaller groups followed Joseph Smith III, Sidney Rigdon, and James Strang. Most of these smaller groups eventually coalesced into the Community of Christ, and the term Mormon typically refers to members of The Church of Jesus Christ of Latter-day Saints (LDS Church), as today this branch is far larger than all the others combined. (Since 2018, the LDS Church has requested that its members be referred to as “Latter-day Saints”.) People who identify as Mormons may also be independently religious, secular and non-practicing, or belong to other denominations.
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Mormons have developed a strong sense of community that stems from their doctrine and history. One of the central doctrinal issues that defined Mormonism in the 19th century was the practice of plural marriage, a form of religious polygamy. From 1852 until 1904, when the LDS Church banned the practice, many Mormons who had followed Brigham Young to the Utah Territory openly practiced polygamy. Mormons dedicate significant time and resources to serving in their churches. A prominent practice among young and retired members of the LDS Church is to serve a full-time proselytizing mission.
LGBTQ
Mormons have a health code which eschews alcoholic beverages, tobacco, tea, coffee, and addictive substances. They tend to be very family-oriented and have strong connections across generations and with extended family, reflective of their belief that families can be sealed together beyond death. They also have a strict law of chastity, requiring abstention from sexual relations outside heterosexual marriage and fidelity within marriage, though the Community of Christ is accepting of LGBTQ individuals and relationships.
Mormons self-identify as Christian, but some non-Mormons consider Mormons to be non-Christian because some of their beliefs differ from those of Nicene Christianity. Mormons believe that Christ’s church was restored through Joseph Smith and is guided by living prophets and apostles. They believe in the Bible, as well as other books of scripture, such as the Book of Mormon. They have a unique view of cosmology and believe that all people are literal spirit-children of God. Mormons believe that returning to God requires following the example of Jesus Christ, and accepting his atonement through repentance and ordinances such as baptism.
2020
During the 19th century, Mormon converts tended to gather to a central geographic location, a trend that reversed somewhat in the 1920s and 30s. The center of Mormon cultural influence is in Utah, and North America has more Mormons than any other continent, although the majority of Mormons live outside the United States. As of December 2020, the LDS Church reported having 16,663,663 members worldwide.
Do Mormons Own Coca-Cola?
There are many rules to being a part of the Mormon faith, some of these rules concern what members of the church can drink.
There have been rumors for years that Mormons own Coca-cola, which would be hypocrisy on the church and the members who own Coca-cola.
However, is the restriction on Mormons being able to drink Coca-cola even true? we’ll get to that bit later but let’s cover the question at hand.
The Mormon church does have stock in various companies though. Most notably in various tech companies, including Apple, Google, and Microsoft.
This report also confirmed that the church does not have any stock in Coca-cola, Pepsi-cola, or Starbucks.
The Mormon church states on its website that they do not hold stock in companies that go against the tenets of their faith. If the church were to gain holdings in a company that it disagrees with, then they would sell those shares.
Caffeine
The reason that this rumor persists is because of the widely held belief that Mormons cannot drink caffeine.
While it’s true that Mormons are encouraged to avoid caffeine, it is not church doctrine to not drink caffeine the way that Mormons have to avoid tobacco and alcohol.
This rumor also likely stems from the fact that Mormons do not drink hot drinks like coffee and tea.
Since coffee and tea both have caffeine, some members took to avoiding all drinks with caffeine.
It’s easy to see how some of these rumors get started. Some misconceptions and wrong interpretations about things can go a long way.
The truth about what Mormons are encouraged to avoid and what they actually avoid is a complex subject.
Can Mormons Drink Coca-Cola?
While Mormons do not actually need to avoid drinking Coca-cola, or any other soda by church doctrine, it is easy to see how this belief persists.
Followers of the Mormon faith are known for following a number of strict rules about how they live their life.
This includes details on family life, what they can wear, and what they can eat and drink.
The main rules on what Mormons are restricted from taking part in are tobacco and alcohol.
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Mormons are also restricted from drinking hot drinks, mostly interpreted as including tea and coffee.
There have been debates within the Mormon community about why hot drinks have been restricted by the church. Some interpret it has hot drinks being bad for your teeth and insides.
Many Mormons saw the similarity between the two drinks as having caffeine and thus decided to not drink soda with caffeine as well.
What business does the Mormon Church own?
Bonneville International Corp. listen)) is a management and holding company of for-profit businesses owned by The Church of Jesus Christ of Latter-day Saints (LDS Church).
What grocery stores are owned by the Mormon Church?
The Church of Jesus Christ of Latter-day Saints does not own any grocery store and is not listed among the top shareholders of the company. Albertsons is owned by the private equity firm Cerberus Capital Management. Churches cannot directly own companies, seeing as they are not-for-profit organizations.
Which church is the richest?
Religious organizations
Do Mormons own Pepsi?
The Mormon church does have stock in various companies though. This report also confirmed that the church does not have any stock in Coca-cola, Pepsi-cola, or Starbucks. The Mormon church states on its website that they do not hold stock in companies that go against the tenets of their faith.
Are there any Mormons who own PepsiCo?
That too is untrue: Like Coca-Cola, PepsiCo is far too large for any group to possess outright. Underpinning this legend is the notion that Mormons are forbidden caffeinated beverages, thus how deliciously ironic it would be if the Church of Jesus Christ of Latter-day Saints quietly owned a company it raged against from the pulpit.
5 Top Shareholders of PepsiCo (PEP)
1. Indra Nooyi
Indra Nooyi joined PepsiCo in 1994 as senior vice president of strategic planning. After holding several other senior positions in management, she was named CEO in 2006 and chairperson in 2007.5
Nooyi restructured the company as part of her strategy to become much more than a soda company. She orchestrated the divestiture of its restaurants into Yum! Brands Inc. (YUM), the acquisition of Tropicana, and the merger with Quaker Oats and Gatorade.6
As of March 2019, Indra Nooyi was the largest single shareholder of PepsiCo., with 1.47 million shares.7 On Aug. 6, 2018, Nooyi stepped down from her executive position, effective October 2018. In early 2019, she also stepped down as chair. She was succeeded by the company’s president, Ramon Laguarta.8
2. Bob Pohlad
Bob Pohlad, along with his brothers Jim and Bill, owns and manages a diversified group of over 30 Minneapolis-based businesses and belongs to one of the richest families in Minnesota.
The Pohlad interests include car dealerships, real estate, finance, radio, motion pictures, and full ownership of the Minnesota Twins Major League Baseball franchise. Bob was the chair and CEO of the family’s PepsiAmericas Inc. until PepsiCo acquired the Minnesota bottling company in February 2010.9
Pohlad oversees the family’s automotive and real estate companies and was elected to the board of directors of PepsiCo in March 2015.9 As of March 2020, Bob Pohlad held 1.15 million shares of PepsiCo.10
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3. Albert Carey
Albert Carey joined PepsiCo in 1981 and was the CEO of PepsiCo North America until his retirement in March 2019.11 Carey held numerous positions within the company such as leading North America Beverages, Frito-Lay North America, and Quaker Foods North America.
Carey is on the board of directors of The Home Depot, Inc. (HD) and The Food Marketing Institute and is also on the board of trustees, and the dean’s advisory council of the Robert H. Smith School of Business at the University of Maryland.12 As of March 2019, Carey held 312,688 shares of PepsiCo.7
4. Hugh Johnston
Hugh Johnston has been with PepsiCo since 1987, serving in several leadership roles, such as the executive vice president. He was named chief financial officer (CFO) in 2010 and leads the company’s financial strategy, capital structure, and forecasting models.
Johnston was named vice chair in 2015, overseeing the company’s e-commerce and information technology systems, and strengthening the company’s overall digital presence.13 According to his latest SEC filing from March 2020, Johnston held 119.083 shares of PepsiCo.14
5. Thomas Greco
Thomas Greco had been with PepsiCo for 30 years when he left and joined Advance Auto Parts, Inc. as its CEO and President in April 2016. Greco served as the CEO and President of Frito-Lay North America, Inc. from September 2011 to March 2016.1516 As of his last SEC filing in March 2016, Greco had 147,922 shares of PepsiCo.17
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