WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Targacept, Inc. (NASDAQ: TRGT), a clinical-stage biopharmaceutical company developing novel NNR Therapeutics (TM), today announced the following changes to its Board of Directors: M. James Barrett, Ph.D. and G. Steven Burrill have resigned their directorships, effective May 31, 2013. Dr. Barrett and Mr. 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, M.D. has decided not to stand for reelection and will retire from Targacept’s Board effective May 31, 2013. Dr. Snyderman, who has been a member of the Board since June 2007, has reached the retirement age set forth in Targacept’s Corporate Governance Guidelines.
