Simply paste this code into your function.php file. Edit lines 5 and 6 at your convenience.
function wps_change_role_name() { global $wp_roles; if ( ! isset( $wp_roles ) ) $wp_roles = new WP_Roles(); $wp_roles->roles['contributor']['name'] = 'Owner'; $wp_roles->role_names['contributor'] = 'Owner'; } add_action('init', 'wps_change_role_name');
Thanks to Kevin Chard for the tip!!