John Rowsell will become president of Glenwood Capital Investments LLC, Chicago, at the end of the year. It is a new position. He is a senior director and a member of the firm's investment committee, which selects managers for the firm's fund of hedge fund programs. As president, Mr. Rowsell will assume some of the duties handled by Frank Meyer, chairman. Mr. Meyer will retire from active management but stay on as a consultant and member of the investment committee. Also, David Gordon, vice president and principal, will leave year's end; he will not be replaced.