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|Subject: Donald MacNaughton, 85|
Ex-Chief of Prudential Financial
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Date Posted: November 06, 2002 1:11:45 EDT
Donald S. MacNaughton, an insurance and health care executive who, from the late 1960's to the mid-1980's, ran two of the nation's biggest companies — first the Prudential Insurance Company of America and then the Hospital Corporation of America — died on Sunday in a hospital in Greenwich, Conn. He was 85 and maintained residences in Greenwich and Chatham, Mass.
The cause was a cerebral hemorrhage, said Joe Vecchione, a retired vice president of Prudential.
After serving as chief executive of Prudential for nine years, Mr. MacNaughton left in 1978 and took charge of the Hospital Corporation, which operated scores of hospitals, mainly in the South and Southwest. He was chief executive for seven years. He also served on the board of HealthTrust, a hospital management company that had been created to run some of the hospitals formerly owned by the Hospital Corporation.
Prudential, which went public late last year and is now known as Prudential Financial, remains one of the country's largest life insurers. Hospital Corporation, now known as HCA Inc., is still the leader in its field, operating more than 180 hospital and 80 surgery centers.
Under Mr. MacNaughton's leadership, both companies grew substantially. In 1968, just before he took charge of Prudential, the company sold $13.5 billion in life insurance. By the end of his tenure, annual sales had more than tripled to $43 billion.
In the MacNaughton years Prudential expanded its real estate investments and diversified into auto and home insurance.
Mr. MacNaughton's first job at Prudential, in 1955, was as an associate legal counsel.
Donald Sinclair MacNaughton was born on July 14, 1917, in Schenectady, N.Y. He received a bachelor's degree in 1939 and a law degree in 1948, both from Syracuse University. During World War II he served in the Army Air Corps in the South Pacific and rose to first lieutenant. He worked as a lawyer in Pulaski, N.Y., from 1948 to 1954.
He is survived by his wife, the former Winifred Thomas, whom he married in 1941; two sons, Donald T., of Scarsdale, N.Y. and David, of Bronxville, N.Y.; and four grandchildren.
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