Newman Enterprises Inc. is a fictional business on the CBS daytime drama, The Young and the Restless.
Newman Enterprises Inc. was founded by business tycoon Victor Newman, after he had left Chancellor Industries. The corporation is a worldwide conglomerate with three main divisions, including Newman Cosmetics, a Real Estate Division and a Venture Capitals Division. Currently, the main Newman Enterprises offices are located in the Newman Tower in the heart of Genoa City, Wisconsin. The tower is also home to NVP Retreats main offices.
Victor Newman was CEO for many years and stepped down in 2003 naming Neil Winters temporary CEO. Soon after, Victor named his son Nicholas permanent CEO. In 2005 Nicholas took a leave of absence in order to deal with the death of his daughter during which time Victoria Newman was appointed CEO. When Nicholas returned he was joint CEO with sister Victoria. When Nick was missing Victoria could not run the company by herself so Victor appointed Neil Winters co-CEO with Victoria. When Nick came back from the dead, Newman Enterprises had three CEOs. The Members of the Board of Directors have changed over the years, but now consist of Victor Newman, Victoria Newman, Nicholas Newman, Nikki Newman and Neil Winters. The addition of Neil Winters has become a bit controversial after it was found that Phyllis Newman influenced the vote by blackmailing Brad Carlton into voting for him and against Nikki Newman.
Jack Abbott and Brad Carlton twice tried to take over Newman while Victor was out of town and presumed dead. They almost succeeded in 1998, but when a cocky Jack tried to make a deal with Victor, The Moustache tricked him.
On October 18, 2007, Victor announced that Nick will become Co-CEO of the Venture Capital division, Neil, will become Co-CEO of Newman Cosmetics division, and Victoria will become Co-CEO of the Real Estate division. Soon after Nicholas Newman was let go.
Subsequent to his new bride's untimely death, Victor Newman disappears to Mexico without telling anyone. Believed dead after a boating accident, Adam Wilson, now going by his birth name Victor Adam Newman, seized power. The youngest Newman son embarked on radical changes firing stalwart Newman employee Neil Winters as well as his own half-sister Victoria Newman. Victor Jr. names himself Chairman of the Board and installs Brad Carlton, the very individual who teamed up with Jack Abbott to steal Newman enterprises from Victor Sr, as CEO of Newman Enterprises.
Newman Enterprises Divisions
*Newman Enterprises Real Estate Division
*Newman Enterprises Venture Capital Division
*Newman Cosmetics Division - Beauty of Nature (formerly Newman Infinity)
*The Newman Foundation
Newman Enterprises Subidiaries
* NVP Retreats
* Granville Global
* Ra-Tech (formerly owned by Cassandra Rawlins)
Newman Enterprises and Jabot Cosmetics
Throughout the years there has been a constant rivalry between Newman Enterprises and Jabot Cosmetics. This rivalry is due in part to the personal relationship between Victor Newman and Jabot employee and one-time owner Jack Abbott. Throughout the years, Victor Newman has used Newman Enterprises to buy and sell Jabot, crippled it financially, attempted to shut it down, bribed retailers to make sure its products failed and attempted to foreclose on all of its outstanding debts. All of this has lead to Chancellor Industries purchasing the company and running it as one of its in house divisions free of interference from Newman Enterprises.
After the Abbott family had regained control of Jabot they fell on hard times. With new employee Drucilla Winters assisting they attempted to enter a new market. That of African American women. One way to do this was buy out Satine Cosmetics. Unfortunately, Victoria Newman heard of this and used Newman's more substantial bank account to outbid them. When Satine was finally purchased Newman decided to dismantle and restart it from scratch. It was then renamed Saffra.
(See Jabot Cosmetics page for more)
Bribery Scandal and Victor Newman Steps Down
In 2003 after it was found that he had sabotaged the launch of Tuvia from Newman's competitor Jabot, Victor found out that his son was the one that had informed Jack Abbott. In a strange move, Victor forgave Nicholas for his betrayal and decided to step down. Initially putting Neil Winters, his most loyal employee in charge. Shortly after Nicholas and Neil went to Victor and the decision was made so that Nicholas would be put in charge.
In 2005, Victor again took control of the company bought after a severe illness that made him very mellow, he gave back the CEO position to his son Nicholas Newman and daughter Victoria Newman.
(See Jabot Cosmetics page)
Nikki Newman and Phyllis Summers Newman came up with an idea to create wellness spas under the Jabot umbrella, and took it to Jack Abbott who promptly shot it down as not feasible considering Jabot's instability. Phyllis and Jack had it out, and she quit her new job as Jabot Executive of Internet Affairs. So Nikki and Phyllis presented the idea to Victor Newman instead, and he agreed to fund the project, joined the partnership, gave them an office in Newman Towers, and they called it NVP after Nikki, Victor and Phyllis.
(See more at NVP Retreats Main Page)
Newman Enterprises employees (In Genoa City)
*Victor Newman: Founder, Controlling Shareholder,Owner and Chairman (Victor cannot be CEO of Newman due to a past scandel)
*Nicholas Newman: CEO, Board Member
*Victoria Newman: Executive Director of the Newman Foundation, Director of Cosmetics Division, Board Member
*JT Hellstrom : Director of Corporate Security
*Sharon Abbott: NVP Spokesmodel
*Devon Hamilton: Project Manager
*Adam Wilson: Former Chairman of the Board, Former Head of Acquisitions and Mergers at Newman
*Brad Carlton : Former CEO (briefly)/President of Newman
*Jack Abbott : Former CEO of Newman, Former CEO and Partner in NVP Retreats
*Karen Taylor : Former Director of Cosmetic Division at Newman
*Neil Winters : Former CEO and President of Newman
Current Board of Directors
Board of Directors Controversy
The addition of both Brad and Neil were shocking decisions made by the Newman Board. Brad Carlton is a man that Victor never wanted to have anything to do with his company. But in 2006, Brad sold his share of Jabot in exchange for a share of Newman(making him the first outsider to own a part of the company). He eventually pushed and after marrying Victor's daughter Victoria was given the seat on the board. Neil Winters in 2007 had forced Victor's hand to give him the board seat. He told him he would stay if and only if he was given a seat on the board. Unfortunately at this time, Nikki Newman took an interest in the company which divided the family. In the end due to some extortion on the part of Phyllis Newman, Neil was given the position on the Board. When Victor disappeared in 2008, his son took over the company and told the Board of Directors they were dismissed. However all of this overturned when Victor returned. After Brad's death, Victor planned to give his seat to Ashley Abbott however his Brad's daughter Colleen took over the seat due to the rights she had as Brad's daughter in the Newman Enterprises by-laws.
After Victor left for Mexico to find Walter, Adam took control of Newman which Neil Winters did not like, so he held an emergency board meeting and appointed Victoria as CEO until Victor gets back. After this she changed Newman Infinity Cosmetics back to Beauty of Nature and moved Adam off the project. She then ran into Michael and Lauren and explained what was going on, then Michael told her Victor transferred the ownership of the ranch to Newman Enterprises which made Victoria Adam's landlord. She then told Adam to pack his things and get off the ranch.
After Victor left, he was presumed dead so that left Micheal to read the will. It stated that Victor left the control of Newman Enterprises to Adam. Adam quickly took control of Newman, firing Neil and Victoria and then Karen Taylor quit after he fired Neil. He renamed Beauty of Nature to Newman Infinity after Victoria had changed it back to Beauty of Nature. He then brought Brad Carlton in as CEO and Brad took the job since he knew he was going to be fired as the COO of Jabot after the article in Restless Style Magazine.
On September 3, 2008, Victor returned to Genoa City. He entered while Adam and Heather were making love. When Adam saw Victor he was completely shocked obviously. Victor ignored Adam completely and went to his study. Victor then texted Michael Baldwin and told him to come to the ranch immediately.
Once Nick, Victoria, Adam, and Neil Winters had gathered at the Ranch, Victor talked to each of them privately. He fired Adam from Newman Enterprises after telling him how disappointed he was in his selfish leadership. He reinstated Neil and made him CEO and President of Newman. He will remain Chairman of the Board but he has made it clear that he wants to be left alone giving Neil control of the company reporting to Victor however he wants.
*Newman is often viewed as the biggest and most powerful company in all of Genoa City along with Chancellor Industries.
*Newman currently controls all of the drilling rights to Methane in Clear Springs, Wisconsin.
*Newman Enterprises currently controls most of the debts to NVP Retreats. As of October 2007, Newman has announced that they are calling in all outstanding debts of NVP and seizing all of its assets.
*Newman Enterprises owns NVP Retreats which it acquired in Nikki and Victor Newman's 2008 divorce settlement in which Victor turned it into a wholly owned Subsidiary of Newman Enterprises.
*Also October 8, 2008 Victor hired his son Nick to replace Neil as CEO.