India, Aug. 13 -- Natarajan Chandrasekaran's announcement that he will step down as Tata Sons chairman at the end of his term has sparked speculation over who will get the baton.

Chandrasekaran's term is scheduled to end in February. On Thursday, Tata Trusts said the trustees of Sir Dorabji Tata Trust - a group of charities that wields indirect control of the Tata Group - have passed a resolution to set up a selection committee to recommend a new chairman for Tata Sons.

As the Trust begins the process of finding a successor to lead the diversified conglomerate's holding company, several big names have been doing the rounds.

Late industrialist and former Tata Sons chairman Ratan Tata's half-brother Noel Tata is one of the serious conten...