India, Aug. 13 -- The Tata Trusts on Thursday initiated the process of finding N Chandrasekaran's successor to lead Tata Sons, the holding company of the diversified Tata group, a day after Chandrasekaran announced that he would not seek reappointment for a third term as chairman.

The Sir Dorabji Tata Trust (SDTT), which is among the charitable trusts that together hold nearly two-thirds of Tata Sons, said its trustees had decided to begin the process of setting up a selection committee to recommend the next chairman of the Tata Sons board, according to a PTI report.

The Trusts specifically acknowledged Chandrasekaran's contribution during a period of "significant change, growth and transformation" across the Tata group.

Chandrasekaran...