India, Aug. 13 -- The Tata Trusts on Thursday, August 13, began the process of finding a successor to N. Chandrasekaran as chairman of Tata Sons, the holding company of the diversified conglomerate.

The Sir Dorabji Tata Trust (SDTT), which along with other Tata Trusts holds nearly two-thirds of Tata Sons, said trustees had passed a resolution to set up a selection committee as soon as possible, in line with Tata Sons' Articles of Association, to recommend a new chairman for the company's board.

The move follows Chandrasekaran's announcement Wednesday, August 12, that he would not seek a third term as Tata Sons chairman, citing a lack of unanimity on the matter within the board. Chandrasekaran had also said clarity on the leadership ques...