Management ChangeJun 24, 2026, 08:02 AM
Picard Medical Appoints Richard Fang as Interim CEO; Schnegelsberg Departs
AI Summary
Picard Medical, Inc. announced a leadership transition, with Patrick NJ Schnegelsberg stepping down as Chief Executive Officer and Board member, effective June 18, 2026. The company stated his departure was not due to any disagreement. Richard Fang, Ph.D., the Executive Chairman of the Board, has been appointed Interim Chief Executive Officer while the Board searches for a permanent replacement. Dr. Fang will continue in his role as Chairman and brings extensive experience in the medical device industry.
Key Highlights
- Patrick NJ Schnegelsberg stepped down as CEO and Board member, effective June 18, 2026.
- Mr. Schnegelsberg's departure was not due to any disagreement with the Company.
- Richard Fang, Ph.D., Executive Chairman, was appointed Interim Chief Executive Officer.
- Dr. Fang will continue to serve as Chairman of the Board during the search for a permanent CEO.
- SynCardia Systems, a subsidiary, makes the only FDA-approved total artificial heart.
- Dr. Fang is a founder of Hunniwell Lake Ventures LLC and founded Reach Surgical in 2005.
- He has over 20 years of medical device industry experience, including at Johnson & Johnson.
Price Impact
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