In 1958 Stephanie Douglas convinced her father, a businessman named John Douglas, to lend her and her husband Eric Forrester $50,000 to begin a company. They bought a building located in S. Haragate Avenue, Los Angeles, CA and started their work. The company thrived for many years becoming one of Los Angeles premiere fashion design houses.
In 1993, chemist Brooke Logan gained 51% of stock and became CEO of Forrester. This is when the company could not buy her BeLieF product. The Forresters re-gained control and Eric was voted back in as CEO. In 2005, Stephanie discovered that she had a trust fund which stated that she has been full owner of Forrester since its beginning. She fired several employees such as Brooke and Eric. She made Thorne Forrester President of the company. She later split shares between all of her children, Eric, Taylor Forresterand Brooke.
The company was then taken over by Nick Marone, who blackmailed the Forresters into selling it to him. Then, Jackie Marone was made President of the company, and Clarke Garrison was made Head Designer. After the takeover, many employees (including Luigi) quit the company. Forrester Creations bought many of the boutiques in Los Angeles except for Fenmore Department Stores and became the only major buyer except for Lauren, until Forrester Originals opened their own line of boutiques.
Eric once again got the company back, becoming owner, chairman, and CEO. He later gave Ridge the CEO position, then said he would give the chairman position to Ridge after he retires. In late 2008, Rick Forrester was made president of the company. In mid-2009, Eric fired Stephanie Forrester from Forrester Creations. That same year, the company began facing problems when sales started going down; after Stephanie got fired by Eric, sales went further down. Thorne and Felicia quit, and Brooke took a leave of absence.
The company was late paying their bank loans and in order to save the company from total collapse he had to sell the company to Bill Spencer, Jr.. The agreement was that on the same employees stay with the company on a non-compete clause with Katie Logan becoming the new CEO.
Katie then offered Ridge the position of President, but he said he couldn't be an executive for Katie. Then she offered Thorne the position of Vice President but he also turned her down. When she then asked Brooke and Donna into those positions, they accepted it. Then Rick Forrester is again Head of the "Forrester International", and Steffy Forrester was promoted to Head of Public Relations andMarketing. Then Katie promoted Line "Hope for the Future" for her niece Hope Logan.
Then in 2010, Steffy Forrester successfully blackmailed Bill Spencer, Jr. into selling the company back to her family again. Then Ridge, Eric, Stephanie & Taylor became the owners of Forrester Creations, each owning 25% of the stock, which cost each of them to pay $50 Million. Ridge was named as CEO of the Company. Eric Forrester had his 25% of the company but after his divorce from Donna Logan, half of his 25% went to Donna as part of the settlement. Later on, Donna would sell her shares to Bill Spencer, Jr. vowing control of Forrester again.
In July 2010, Ridge fired Steffy from the company after the Brooke scadal was made public. Taylor later gave Steffy her shares in the company. In September 2012 Thomas was made interim CEO by Ridge (who went to Forrester International), then Eric, after Stephanie's death, decided to put himself on CEO position, with Rick as president and Thomas as vice-president. In mid-2013, Thorne and Thomas tried to convince Eric to fire Rick, but thanks to Caroline's buzz, Rick conviced his father not to.
Nessun commento:
Posta un commento