Goa, Aug. 13 -- The Tata Group has entered a crucial leadership transition after Tata Sons chairman N Chandrasekaran announced that he would not seek reappointment when his current term ends in February 2027. His decision has triggered speculation over who could take charge of the $180-billion conglomerate, which has businesses ranging from automobiles and aviation to steel, technology and consumer products.

The Sir Dorabji Tata Trust has already passed a resolution to begin the process of setting up a selection committee "as soon as possible". The move signals the beginning of a formal search for Chandrasekaran's successor.

Among the names being discussed is TV Narendran, 61, managing director of Tata Steel. Narendran has spent his ent...