This week, on The Bold and the Beautiful, Liam Spencer announced that he wanted to use Bill, Steffy and Thomas’ shareholding to take over control of Forrester Creations from Rick Forrester who had recently gained irrevocable from his father, Eric Forrester.
Over the Bold and the Beautiful’s 25 years on the air, the ownership and running of Forrester Creations has been a constant source of conflict amongst the Forrester family. And the ownership and leadership structure has never been as confusing as it is at present…
Since Steffy noted that no one seems to remember that it was her that wrestled control of Forrester Creations back from Bill Spencer, let’s start with the ownership movements from that point in time…
Bill’s Takeover and Steffy’s Bid to Regain Control
Bill Spencer took over Forrester Creations and Steffy regained control of the company by pretending to seduce him. Steffy then dispersed the shares amongst those she felt worthy; 25% to Stephanie, 25% to Eric, 25% to her father, Ridge and 25% for Taylor ,who gifted that stock to Steffy, so she could never be locked out of Forrester Creations. The move allayed Steffy’s fears but also hurt Thomas who held no ownership interest int he family business. Additionally, Brooke and the Logan family were locked out of ownership of the company.
Eric lost half of his shares in Forrester Creations when he divorced Donna. Donna, a Logan, was now a 12.5% owner of Forrester Creations. She didn’t stay that way long, however, as Bill Spencer convinced Donna to sell him her stake in Forrester Creations.
This is how Bill got hold of the 12.5% ownership stake in Forrester Creations that Liam now proposes to use to take over Forrester Creations.
During Stephanie’s final attempt at reuniting Ridge with Taylor, she made a promise that had the potential to swing the balance of power forever into the Maroni branch of the Forrester family tree.
In exchange her 25% shareholding in Forrester Creations to be received upon her death Stephanie received a lie. Thomas desperate to own a piece of the family company, like his sister, Steffy, agreed to tell everyone that he and Brooke had made love on the island under the influence of hallucinogenic berries they ate.
Thomas eventually recanted on the lie resulting in Ridge leaving Taylor and going back to Brooke.
Ridge understood where his son’s motivation for lying came from. Ridge rewarded Thomas’ lie by gifting him 5% of his shares.
When Ridge left LA for Paris he gave his son the proxy for his shares.
When Stephanie died, Thomas took over control of Forrester Creations as if he’d inherited Stephanie’s shares. By his reckoning, Eric now owned 12.5%, Bill another 12.5%, Steffy 25%, and Thomas owned 30% plus proxy rights to Ridge’s 20%. That gave Thomas control over 50% of the company shares.
Thomas took control, though he wasn’t the tyrant that Rick is currently, Thomas certainly made his presence known. Stephanie’s Will, however changed the balance of power again.
In her video will, she noted she had promised the shares to Thomas, but had found a clause her father had buried in the original company agreement drawn up that gave her total control to exercise as she saw fit. Stephanie gave her 25% shares to Eric, and also bequeathed the irrevocable control to Eric as permanent CEO.
Presumably it is that control that Eric recently signed over the Rick. Which begs the question: If it truly is irrevocable control can Rick simply be voted out by a shareholder vote? Or does Liam have a bigger battle on his hands?
Liam noted that with Steffy’s help (and control of Bill Spencer’s 12.5% shares) they could take over Forrester Creations. But if Stephanie really did give Eric her 25% shares, the tally would look something like this:
- Ridge 20%
- Thomas 5%
- Steffy 25%
- Bill 12.5%
- Eric 37.5%
With control of Bill, Steffy and Thomas’ shares, Liam would have voting rights to 42.5% of Forrester shares. Not control, but he would certainly be the majority shareholder. Even if Eric wouldn’t betray the son he gave 12 months irrevocable control, it’s a safe bet that Ridge would.
If you add Ridge’s shares into the takeover cartel, they control 62.5% of Forrester Creations shares. Definitely a majority – enough to wrest control of the company from Eric and Rick…
Is taking control over Forrester Creations this simple? Or is there another twist in the company’s ownership yet to be revealed? Between shares, permanent CEO status, Presidents and Vice Presidents, and irrevocable control being bandied about in contracts and Will’s it’s difficult to tell exactly what kind of ownership structure Forrester Creations actually has and who how the leadership ladder actually works!