As you read the context of issues prior to this one, it becomes clear that Rutherford was eager to distance himself from Russell despite the following accolade as he introduced that 1931 resolution.
THAT we have great love for Brother Charles T. Russell,
for his work’s sake, and that we gladly acknowledge that
the Lord used him and greatly blessed his work ...
Here is some of Rutherford's lawyerly verbiage surrounding the name change:
WHEREAS shortly following the death of Charles T. Russell
a division arose between those associated with him in such
work, resulting in a number of such withdrawing from the
Watch Tower Bible and Tract Society, and who have since
refused to cooperate with said Society and its work and who
decline to concur in the truth as published by the Watch
Tower Bible and Tract Society in The Watch Tower and the
other recent publications of the said above-named corporations,
end have opposed and do now oppose the work of said Society
in declaring the present message of God’s kingdom and the
day of the vengeance of our God against all parts of Satan’s
organization; and said opposing ones have formed themselves
into divers and numerous companies and have taken and now
bear such names as, to wit, "Bible Students, " "Associated
Bible Students," "Russellites teaching the truth as expounded
by Pastor Russell," " Stand-Fasters," and like names, all
of which tends to cause confusion and misunderstanding:
Now, THEREFORE, in order that our true position may be
made known, and believing that this is in harmony with the
will of God, as expressed in his Word, BE IT RESOLVED, as
follows, to wit:
THAT we have great love for Brother Charles T. Russell,
for his work’s sake, and that we gladly acknowledge that
the Lord used him and greatly blessed his work, yet we cannot
consistently with the Word of God consent to be called by
the name "Russellites"; that the Watch Tower Bible and
Tract Society and the International Bible Students Association
and the Peoples Pulpit Association are merely names of
corporations which as a company of Christian people we hold,
control and use to carry on our work in obedience to God’s
commandments, yet none of these names properly attach to
or apply to us as a body of Christians who follow in the
footsteps of our Lord and Master, Christ Jesus; that we
are students of the Bible, but, as a body of Christians forming
an association, we decline to assume or be called by the
name "Bible Students" or similar names as a means of
identification of our proper position before the Lord; we
refuse to bear or to be called by the name of any man;
THAT, having been bought with the precious blood of Jesus
Christ our Lord and Redeemer, justified and begotten by
Jehovah God and called to his kingdom, we unhesitatingly
declare our entire allegiance and devotion to Jehovah God
and his kingdom; that we are servants of Jehovah God commissioned
to do a work in his name, and, in obedience to
his commandment, to deliver the testimony of Jesus Christ,
and to make known to the people that Jehovah is the true
and Almighty God; therefore we joyfully embrace and take
the name which the mouth of the Lord God has named, and
we desire to be known as and called by the name, to wit,
Jehovah’s witnesses.-Isa. 43: lo-12 ; 62: 2 ; Rom. 12: 17.
WT, 1931, September 15, pp 278, 279
Len Miller