LONDON -- Jaguar Land Rover CEO Ralf Speth will retire from his position in September, JLR parent Tata Motors said.
Tata has formed a search committee to identify Speth's successor, the company said on Thursday in an announcement to the National Stock Exchange of India.
Tanker giant Maersk's former CEO, Hanne Sorensena, has been suggested as a possible replacement to Speth, the Financial Times reported.
Speth, who turns 65 in September, has led JLR since 2010. During his tenure the UK automaker pursued a major global expansion with new factories in China, Brazil and Slovakia putting it on course to build a 1 million cars a year.
JLR sales ended last year at just over 550,000 vehicles, down 6 percent, as the automaker was slower than some rivals in electrifying its lineup while large drops in diesel demand and a slump in China hit its performance.
The company has bounced back in China in recent months and its global vehicle sales rose by 1.3 percent in December.