The Mark Wright Project was founded by Bob and Jem Wright to help veterans after their paratrooper son died in Afghanistan in 2006.
Now charity bosses have said that a name change is likely to happen, but have promised its volunteers and employees will continue to support veterans.
Mr Wright, 67, left the organisation in December and is now working with lawyers to speed up the process.
His move comes after nine of the directors resigned because several had "serious" concerns over how the Dalkeith-based charity is being run.
He said: "I have been talking to a solicitor. If it's not going to be run right we will just remove the name. I feel pretty sad as I have wasted a few years of my life trying to do good."
Bill Brown, who stepped down as chairman in May, said the resignations have been caused by a "dearth of information" from centre bosses.
He claimed their positions as directors had become "untenable" because there were not enough of them to affect the group from within.
Mr Brown said: "Bob and Jem resigned, and for me that's the saddest thing."
The Office of the Scottish Charity Regulator confirmed it was "aware of these concerns" and is currently in talks with the group.