The actress announced her exit on Twitter, making sure to thank cast, crew and fans for their support.
"I love the show (and this genre) so very much, and am so grateful to this amazing crew and cast, especially my beyond wonderful Josh Morrow," Egan said of her exit in her tweet. "This cast, crew, and everyone behind the scenes at Sony and CBS are truly the best at what they do and are my family. To you incredible fans, thank you for EVERYTHING. This isn't goodbye. Truly. Just goodbye for now."
The final part of her message seems to suggest that she's open (if not already committed to) returning for appearances here and there, so at least we probably won't have to say goodbye to Chelsea forever.
Egan first joined the cast of The Young and the Restless in 2011 as Chelsea Lawson, the scheming mother of Billy's (Billy Miller) unborn child. Before that, she starred on All My Children for four seasons before departing the show. She later returned to All My Children for a three-episode arc to wrap up her character's storyline.
The Young and the Restless airs weekdays at 12:30/11:30c on CBS.
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