Milan Panić

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Milan Panić
Милан Панић
1st Prime Minister of the Federal Republic of Yugoslavia
In office
14 July 1992 – 9 February 1993
President Dobrica Ćosić
Preceded by Position established
Succeeded by Radoje Kontić
Personal details
Born (1929-12-20) 20 December 1929 (age 85)
Belgrade, Kingdom of Yugoslavia
Nationality Serbian American
Political party Non-party
Spouse(s) None
Religion Serbian Orthodox

Milan Panić (Serbian Cyrillic: Милан Панић, Serbian pronunciation: [mǐlan pǎːnit͡ɕ]); born 20 December 1929) is a Serbian American multimillionaire, a Newport Beach and Pasadena, California-based business tycoon. He served as Prime Minister of the Federal Republic of Yugoslavia from 1992 to 1993. Milan Panic became Prime Minister of Yugoslavia while an American citizen. The legality of retaining US citizenship while accepting this office has been questioned based on a Constitutional prohibition of a US citizen accepting office on behalf of a foreign nation.[1] He ran for President of Serbia in 1992 but lost to Slobodan Milošević.[2]

Business career[edit]

He founded ICN Pharmaceuticals in the late 1950s and led it, as Chairman, CEO, and President, to annual sales exceeding $672 million (USD) in 1997.[3] After numerous run-ins with the Securities and Exchange Commission - including six different sexual harassment suits filed by former employees - he was pressured to resign by ICN's Board of Directors. He later bought an ICN subsidiary and changed its name to MP Biomedicals, which is headquartered in Solon, Ohio. Panić has other business entities and investments in the U.S. and internationally.


Political offices
Preceded by
Aleksandar Mitrović
Acting Prime Minister of Yugoslavia
Prime Minister of the Federal Republic of Yugoslavia
Succeeded by
Radoje Kontić