Picard Medical Names Richard Fang Interim CEO, Effective June 18
PMI•Picard Medical’s Executive Chairman Richard Fang has been appointed interim CEO effective June 18, 2026 following Patrick Schnegelsberg’s departure without operational disagreements. Fang will retain his board chairman role while leading the search for a permanent CEO and continuing oversight of the SynCardia Total Artificial Heart franchise.
1. Leadership Transition Details
Patrick NJ Schnegelsberg stepped down as CEO and board member on June 18, 2026. The Board appointed Executive Chairman Richard Fang, Ph.D., as Interim CEO effective that date. Schnegelsberg’s departure was not due to disagreements over company operations, policies or practices. Fang will oversee daily operations and strategy while maintaining his role as Board Chairman.
2. Interim CEO Background
Richard Fang is founder and managing partner of med-tech venture firm Hunniwell Lake Ventures LLC and founded Reach Surgical in 2005, directing its global expansion over 15 years leading to a private equity sale. He has over 20 years of medical-device industry experience, including roles at Johnson & Johnson, and holds an MBA from the University of Cincinnati and a Ph.D. in Physics.
3. Search for Permanent CEO and Outlook
As Interim CEO, Fang will guide SynCardia’s commercialization of the only FDA- and Health Canada-approved total artificial heart, with over 2,100 implants in 27 countries. The Board is conducting a search for a permanent CEO while reaffirming its mission to support advanced heart-failure patients and advance next-generation technologies.
