Chancellor Industries

Chancellor Industries is a major engineering and design company located in a fictional version of Genoa City, Wisconsin on CBS daytime soap opera "The Young and the Restless". Founded by Phillip Chancellor I, it was passed down to his son Phillip Chancellor II; his wife, Katherine Chancellor, inherited control of the company upon his death in 1975.

Throughout the years Chancellor Industries has had many CEOs in charge of its daily operations including the once unknown Victor Newman, the crooked Elliott Hampton, Jack Abbott and Katherine Chancellor herself. Most recently, Katherine had stepped down due to health reasons and the position of CEO was given to her daughter Jill Foster Abbott as of January 2008.

It has been referred to as a sleeping giant according to former CEO Jack Abbott. Financially capable and almost always without scandal. It has been one of the largest companies in the city for well over three decades. It is Newman Enterprises' greatest competitor within the city limits and even more so since it purchased Jabot Cosmetics.

Throughout the years, Chancellor has hired and fired many people in the City, and has been a major part of the economic landscape. The greatest CEO on record is Phillip Chancellor II, who died in a tragic car accident in the mid 70's when the car he was in crashed with him and his wife in it. At the time of his death, he'd attempted to marry Jill Foster Abbott, but the marriage was annulled, thus the company went to his widow.

Recent News

In 2004 it was found that Elliott Hampton, CEO at the time was embezzling funds from the company into his private accounts. At this time, he was fired and replaced by Jack Abbott. A man well capable of running the company due to his experience running a cosmetics company.

Later in 2004, Chancellor Industries would purchase 51% of Jabot Cosmetics.

In 2006, after a corporate sabotage incident, Chancellor was forced to sack CEO Jack Abbott who was blamed for it. (See Jabot Cosmetics for more details)

In late 2006 Jabot Cosmetics, Chancellor's now struggling cosmetics line was sold to the House of Kim for the sum of $250,000,000. In 2007 the sale was reversed for a fraction of the cost now bringing the company back into the fold.

In early 2007, Chancellor Industries signed on to be the major contractor on the Clear Springs Project. A massive project which included spas, hotels, department stores, a casino, and included a total revamp of the old little town as well. Unfortunately during the building it was found that the materials used were subpar and crumpling and eventually the parking garage in Clear Springs collapsed, trapping a dozen of Genoa City residents, including Chancellor Industries owner and CEO, Katherine Chancellor. It was found that Chancellor was not actually at fault, however, when it was found out that former CEO Victor Newman had been drilling for methane nearby and it was found that an explosion there is what caused the collapse.

After suffering a stroke in 2008, Katherine turned the company over to her daughter Jill Foster Abbott. Cane was promoted to Vice President of Jabot Cosmetics and brought Nikki Newman in to head up Jabot. After Nikki's resignation in August 2008, Cane was appointed CEO of Jabot.

Chancellor Industries Divisions

Chancellor is a major company that develops defense technology, as well as has a construction company. Currently, Chancellor is the main contractor working on the Clear Springs Project.

Also, for the past five years, Chancellor has owned, sold and repurchased Jabot Cosmetics. When purchased, Jabot was floundering, and as it was rebuilding, was sabotaged and nearly dead in the water. Eventually Chancellor's CEO Katherine Chancellor chose to sell the company to Korea based House of Kim, a dummy corporation headed by former Jabot and Chancellor CEO Jack Abbott.

As of spring 2007, Chancellor Industries has bought out House of Kim, and Nikki Newman's shares of Jabot. It has also promoted Jabot's former CEO Jill Foster Abbott to the position of CEO of Chancellor Industries. Nikki Newman replaced her as the CEO of Jabot, until August 2008 when she chose to resign. At that time, Jill's son, Cane Ashby, was appointed CEO of Jabot.

Chancellor Industries Staff

* Jill Foster Abbott: Current CEO of Chancellor Industries (January 30,2008 - present)

* Katherine Chancellor: Current Owner&Advisor to CEO of Chancellor Industries & former CEO of Chancellor Industries (1975-1978) (1980-?) (2006-2008)

* Ethan Ashby: Director of Acquisitions at Chancellor Industries Construction Company and CEO of Jabot Cosmetics

Former Chancellor Staff

* Jack Abbott: Former CEO of Chancellor Industries (2006-2007)

* Elliott Hampton: Former Executive President at Chancellor Industries

* Trenton Jordon: Former Executive

* Judy Wilson

* Derek Thurston: Former CEO of Chancellor Industries

* Victor Newman: Former CEO of Chancellor Industries (1979-1980)

* Phillip Chancellor II: Former Owner & CEO of Chancellor Industries (?-1975)

Jabot Cosmetics Staff (through ownership by Chancellor)

* Brad Carlton
* David Chow
* Gloria Fisher Bardwell
* Kevin Fisher
* Billy Abbott
* Traci Abbott Connolly
* Ashley Abbott

Trivia

* Chancellor Industries hired Jack Abbott to be CEO after its CEO was found to be embezzling funds out of the company.

* Victor Newman originally came to Genoa City to be Chancellor's CEO, and would later leave to become Founder and CEO of Newman Enterprises, currently the equal to CI. Newman and Chancellor are mostly fair competitors due to Newman's long-time war with Chancellor subsidiary Jabot.

* Due to a deal made with Mr. Gibson, Jack Abbott could have no dealings with CI of Jabot, so in order to keep control of Jabot, Jack set up a dummy corporation to buy Jabot from Chancellor. This proved very profitable, but in the end, his plans were shut down by Ji Min Kim, Michael Baldwin and Victor Newman. He was forced to sell the company back to Chancellor at a fraction of the original cost.

* Chancellor Industries would've been passed down to Jill legally in 1975 if Katherine and Phillip's divorce would've settled before his death. Jill would've thus been a legalized widow.