Management Changes: ICN Biomedicals Inc. announced Wednesday...

Management Changes: ICN Biomedicals Inc. announced Wednesday that M. William Lightner Jr. will not seek another one-year term as president of the corporation so he can accept a new post with the firm’s parent, ICN Pharmaceuticals Inc.

Subject to approval Friday by the board of directors, founder Milan Panic will take his place as president, while still retaining his post as chief executive officer and chairman of the board.

Lightner, 57, who was selected as president last year, would become vice president of corporate development at ICN Pharmaceuticals Inc., the company announced.

The company said that the change was initiated because ICN Pharmaceuticals needs Lightner to help in ICN’s ongoing negotiations to acquire several Eastern European companies.

ICN spokesman Jack Scholl said that Lightner, a former partner with the accounting firm Arthur Anderson & Co., has broad experience dealing with multinational companies.