The announcement came the day after the national holiday celebrating the Rev. Martin Luther King Jr.'s role in leading the U.S. civil rights movement in the 1950s and '60s, and just days after his daughter Bernice was named The King Center's chief executive officer.
Martin King III, who had held the CEO post, said he would remain active as a member of the board of trustees, The Atlanta Journal-Constitution reported.
"I will be devoting my primary future efforts towards launching a new organization that will focus on supporting a new generation of young 'drum majors for justice' worldwide to expand my commitment to the Kingian principles of non-violence, social justice, and human rights," he said in a statement. "To that end, I will announce further details in the coming weeks."