It is possible to change the name of a Volume Group using LVM. The general form of the vgrename command is:
vgrename /dev/vg_Old /dev/vg_New
This renames the Volume Group vg_Old to vg_new. However there are some other changes that need to be made in order for your computer to boot correctly the next time that is necessary.
There are two files that contain the names of the Volume Groups that must be changed after you rename a Volume Group.
The /etc/fstab file points to the various Logical Volumes that need to be mounted by using the reference in the /dev/directory to the Volume Group. You must change all occurrences of the Volume Group name in the /etc/fstab file in order to ensure that all Logical Volumes mount properly.
In addition, you must change the /boot/grun/grub.conf file, or /boot/grub2/grub.cfg for more recent distribution releases such as Fedora. Each instance of the olf Volume Group must be changed to reflect the new Volume Group name in the appropriate GRUB configuration file.