CEO of Jaguar Land Rover Ralf Speth arrives on the red carpet for the automobile awards "Das Goldene Lenkrad" (The golden steering wheel) given by a German newspaper in Berlin, Germany, November 12, 2019. REUTERS/Hannibal Hanschke

(Reuters) - Jaguar Land Rover’s Chief Executive Officer Ralf Speth will step down in September when his contract ends, but will retain an advisory role at the British carmaker, the Financial Times reported on Wednesday.

An announcement could be made on Thursday, the newspaper said, citing sources.

Speth will focus on his position on the board of Tata Sons, the holding company of JLR's owner Tata Motors Ltd TAMO.NS, the FT reported.

Tanker giant Maersk's former CEO Hanne Sorensena has been suggested as a possible replacement to Speth, the newspaper said on.ft.com/2GxIuyG.

A Jaguar Land Rover spokesman declined to comment on the FT report.