DURECT Corporation announced that Felix Theeuwes will retire as Chairman of the Board and Distinguished Scientist effective December 31, 2018. Dr. Theeuwes has been scaling back his activities in recent years, having gone to three days per week in April 2015 and one day per week in February 2018. David R. Hoffmann will assume the role of Chairman of the Board; he had been Lead Independent Director of the Board and will continue as Chairman of the Audit Committee. In addition, the Board of Directors has initiated a search for an additional independent board member. David R. Hoffmann has served as a Director of DURECT since December 2002 and as Lead Independent Director since December 2010. Mr. Hoffmann is currently a member of the Board of Directors and Chairman of the Audit Committee of Molecular Templates.