As The Young and the Restless reshuffles its canvas of characters, fans can find comfort in knowing that at least one familiar face will remain front and center. Eric Braeden (Victor Newman) has signed a new multi-year contract with the CBS soap.

"Very glad we got the negotiations successfully behind us," Braeden said in a statement to Entertainment Weekly.

The terms of the deal were not released, but the signing puts to rest rumors that the long-time veteran might be leaving the show. Despite rumors of Braeden's intention to walk cropping up earlier this year, this latest round of contract talks appeared to have been far less contentious than previous ones.

In 2009, contract talks went down to the wire. When no agreement was reached, Y&R wrote Victor out of the show's stories. The actor and his alter ego were off-screen for nearly three months. A fiery Braden blasted producers for wanting to change the terms of his three-year contract mid-contract.

"It is over. I pulled the plug. That's it. No more. If I show good will, I expect it to be reciprocated," Braeden said at the time. "If there is a rigid attitude on the other side, what is there to negotiate? That's a sign of utter disrespect."

In April, Braeden marked his 32nd anniversary playing Victor Newman. In that time, Braeden has been nominated for a Daytime Emmy on eight occasions. He won the Outstanding Lead Actor trophy in 1998. In 2007, Braeden was awarded a star on the Hollywood Walk of Fame.