He prepared at Pingry and was an economics major at Princeton, graduating from both cum laude. He roomed with Nolen Bailey, Dick Cruess, and Jim Umstattd, was a member of Charter Club, and was head varsity football manager his junior year. In 1953 he earned an M.B.A. from Columbia and went to work for Carter-Wallace Inc., retiring as chairman of the executive committee in 1996. Bud’s father was chairman of the Carter-Wallace board when he retired in 1972.  

Bud served on the boards of trustees of the Pingry School, YMCA of the Oranges, and the American Hospital of Paris Foundation. He was a member of the Union League and of the Metropolitan, Short Hills, and University clubs.

Bud’s marriage to Gayle Chamberlin ended in divorce. He died at home in New York City Oct. 16, 2007, after a long illness and is survived by his wife, Suzanne Cavan Hoyt; his children, Scott, Susan, Ames, and Sarah Steidel ’83 and her husband, Charles Steidel ’84; his stepson, William Nguyen; his brother, Henry H. Jr. ’49; his sister; Suzanne Hoyt; and six grandchildren.

Undergraduate Class of 1951