Billy takes control of Chancellor Industries; The Young and the Restless recap for Wednesday, August 21, 2024

Claire showed Kyle a puppet that Harrison had made of Kyle, and they talked about how Harrison was feeling about the tension between Kyle and Summer. Claire assured Kyle that it was a good sign that Harrison could talk about his feelings. Kyle expressed his appreciation for having Claire in their lives. Claire told Kyle that she was there for him, too, if he needed a sounding board.

Kyle told Claire that he and Summer had made some headway on a separation agreement. Claire said she was impressed with both of them, as their compromise showed how much they cared about Harrison. Kyle asked Claire to dinner, just the two of them, and she accepted.

At Jabot, Jack and Diane discussed Billy and Kyle and noted how they both had the same chip on their shoulders. Jack said the common denominator was that both Billy and Kyle thought they had failed at living up to Jack’s expectations.

Jack told Diane that his father’s legacy meant everything to him, and he wanted the Abbott name preserved for successful companies. Diane told Jack that she secretly hoped that Billy would return to Jabot one day. Diane divulged that she had been told that Kyle was going to Newman Towers after hours, and she suspected he was meeting with Victor. Jack said that Victor had to be the Glissade mystery investor. They agreed that if that was true, Kyle was knowingly working with Victor against them.

Jack and Diane considered the possibility that Kyle was working with Victor to take over, or he could have been asking Victor to back off. Diane and Jack agreed that the most likely theory was that Victor secretly owned Glissade, and the idea repulsed them. Diane wondered if letting Kyle fail was still the best course of action if he and Victor were partners.

Jack told Diane that he wouldn’t want to allow Victor to be involved in Kyle’s downward trajectory. Diane said they needed to get back in Kyle’s good graces and should help him—whether he wanted it or not. Jack and Diane agreed to confirm what was going on before acting, and they also agreed that they needed to find an indirect route to information. Diane told Jack they should think like Victor, and if she had to make a moral compromise to save their son, then she was willing to make that sacrifice.

At the Athletic Club, Victor approached Billy and said that he wanted to talk to Billy alone in the lounge. Once there, Victor instructed Billy to stop rumors that Victor wanted to take over Chancellor. Billy said that he wasn’t afraid of Victor. The two bickered, and Victor asked Billy about the rumors about Jill. Billy said that Jill was fantastic. They compromised to shut down rumors of either topic. Before he walked away, Victor told Billy to let Jill know that if she needed anything, she should ask Victor.

Across the restaurant, Lily talked to Nikki and admitted that she felt that Chancellor Industries was her family company. She reminded Nikki that Jill was her children’s grandmother and Katherine was Devon’s grandmother. Lily said that Jill and Katherine had always made her feel valued and appreciated, which was why she wanted Chancellor to be a success more than anything. “I would never let Billy or anyone else tarnish or ruin her legacy, I care too much,” Lily said. Nikki was very relieved and told Lily that was exactly what Nikki had needed to hear.

Lily approached Billy and demanded to know what he and Victor had talked about. Billy told her it was none of her business but added that Victor hadn’t mentioned taking over the company. They started to bicker about the press release, and Lily told Billy that her time was precious and that she was wasting it. Billy said that her schedule was about to free up. “I’ve decided this partnership is no longer working. I’m going to fly solo running Chancellor, and your services are no longer needed,” Billy said.

Lily made it clear to Billy that she would not just walk away. Billy said her contract would be paid out. Lily called him a proven liability, but Billy snapped that Lily had done prison time, and some would consider that a liability. “You want to call the shots and question my every move on a company that bears my name,” Billy said. Lily told him to prepare for a fight.

Billy told Lily to appeal to Devon for a job instead. Lily said that Jill was her family and that Jill would disapprove of Billy's decision, but Billy said that he had Jill’s vote. “I won’t let you take down Chancellor,” Lily said. Billy replied that he was the one stopping Lily from taking him down.

Kyle and Claire were at Society. Jack and Diane walked in, and all four spotted each other. Kyle sat quietly when his parents approached their table and tried to make small talk. When they walked away, Kyle and Claire talked about houses that Kyle was looking at buying. Claire noted that all the houses were similar to the Abbott house, and she wondered if he didn’t want to move.

Jack and Diane noted that Kyle had been icy but also civil because of Claire’s presence. Jack said he'd thought of a way to uncover Kyle’s connection to Victor.

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Nikki told Victor she didn’t think Lily would ever walk away from Chancellor. Victor said that Nikki could make Lily feel like part of the team but that Nikki would be the one to continue Katherine’s vision and run Chancellor. When they spotted Lily walking to a table and looking upset, Nikki said it looked like the chasm between Billy and Lily had just gotten wider.

The Young and the Restless airs weekdays on CBS.

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