Chairman Peter Cohen will not stand for re-election to Cowen Inc.'s board at the upcoming annual meeting of stockholders on June 26.

Cohen's term will expire upon the conclusion of the annual meeting and he will remain an adviser to Cowen.

Also, Jerome Markowitz, the company's lead independent director, will assume the role of chairman following the shareholders' meeting. Cowen's board plans on nominating two additional board members, Brett Barth, co-founder and managing partner of BBR Partners LLC; and Lawrence Leibowitz, president of Crux Informatics Inc., at the meeting.