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Targacept makes changes to Board and management

pharmafile | March 21, 2013 | Appointment | Manufacturing and Production, Medical Communications, Research and Development, Sales and Marketing Targacept 

Clinical-stage biopharma firm Targacept has announced several changes to its Board of directors and management.

By the end of May M. James Barrett and G. Steven Burrill will have resigned from their directorships. Barrett and Burrill first joined Targacept’s Board in 2002 and 2000, respectively, at the time of venture capital investments made in Targacept by their affiliated funds prior to Targacept’s initial public offering.

Ralph Snyderman has decided not to stand for re-election and will retire from Targacept also in May. 

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The firm says the decisions do not arise from any disagreement on any matter relating to Targacept’s operations, policies or practices. When the changes become effective, Targacept’s Board of directors will be comprised of seven members, including Dr Stephen Hill, Targacept’s president and chief executive, and six independent directors – Charles Blixt, Julia Brown, Errol De Souza, Alan Dunton, John Richard and Mark Skaletsky.

“On behalf of the Board, I’d like to thank Jim, Steve and Ralph for their guidance and strategic oversight as Targacept has grown from an early-stage, venture-funded enterprise to a mature, clinically focused organisation,” said Mark Skaletsky, chairman of Targacept’s Board of directors.

Targacept also announced that Jeffrey Brennan, senior VP, Business and Commercial Development and chief business officer, will be leaving the company as of March to pursue other opportunities.

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