Newman Enterprises

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Newman Enterprises is a fictional business on the CBS daytime drama, The Young and the Restless.

Newman Enterprises
Type Private
Founded 1980
Headquarters Genoa City, Wisconsin, United States
Key people Victor Newman, Chairman of the Board of Directors, Neil Winters, CEO & President
Industry Cosmetics, Corporate Acquisitions, Real Estate
Products Perfumes, Hair Care, Makeup

Newman Enterprises 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 known by the brand names Brash and Sassy and Beauty of Nature, 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.

Contents

[edit] Newman Enterprises History

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 apponited 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,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, Co-CEO of Newman Cosmetics,and Victoria will run the real estate division. Soon after Nicholas Newman was let go.

Recently Newman has seen a lot of its top talent jump ship to other ventures. For example, Brad Carlton has returned to Jabot Cosmetics, Nicholas Newman has resigned and they recently lost all of the NVP Retreats top management with its former CEO moving over to Jabot as well. And, most Recently, Victoria Newman has also resigned and was hired by Jabot Cosmetics

[edit] Newman Enterprises Divisions

  • Newman Enterprises Real Estate Division
  • Newman Enterprises Venture Capital Division
  • Newman Cosmetics Division
  • NVP Retreats

[edit] Newman Cosmetics 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 led to Chancellor Industries purchasing the company and running it as one of its in house divisions free of interference from Newman Enterprises.

[edit] Satine/Saffra Cosmetics

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)

[edit] 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 CEOposition to his son and daughter.

(See Jabot Cosmetics page)

[edit] NVP Retreats

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)

[edit] Newman Enterprises employees (In Genoa City)

[edit] Current Employees

  • Victor Newman: Founder and Chairman of the Board/ Executive Shareholder

[edit] Current Board of Directors

[edit] 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.

Currently it is not known what will happen to Nicholas' seat as he has left the company.


[edit] Former Newman Enterprises Executives

  • Nicholas Newman Board Member, Partner & Co-Founder of Restless Style Magazine
  • Victoria Newman: Former Newman CEO, Board Member, Jabot Cosmetics Executive V.P.

[edit] Trivia

  • Newman is often viewed as one of 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.