The Chancellors are fictional characters and a core family from the CBS Daytime soap opera, The Young and the Restless.
Since their introduction in 1973, the family has mainly been represented by Katherine Chancellor (Jeanne Cooper) and her feud with her husband Phillip II (Donnelly Rhodes)'s young mistress Jill Foster (Jess Walton).
The family is currently represented by Jill, her son Billy Abbott (Jason Thompson), and his children and Katherine's own grandchildren Devon Hamilton (Bryton James) and Mackenzie Browning (Kelly Kruger).
Legend Chancellor Industries (CI) was a major design-and-engineering conglomerate, headquartered in Genoa City, Wisconsin.
Before his death, Phillip Chancellor II supervised all of the company's holdings, including the factory in Genoa City where Liz Foster worked.
After Phillip's death, Katherine relied on good friend Victor Newman to keep an eye on things, and on Mitchell Sherman for legal advice.
The company was referred to as a sleeping giant according to former CEO Jack Abbott, CI was "financially capable and always without scandal."
Victor was having cash management issues due to some bad acquisitions, so it became necessary for him to sell Chancellor Industries.