The German team endured a disappointing end to the 2025-26 Bundesliga season, winning just five of their final 13 matches and finishing sixth in the table, behind VfB Stuttgart and Hoffenheim.
The poor run cost them Champions League qualification and has triggered a planned change in the dugout.
Hjulmand, who only took over in September following Erik ten Hag’s departure, is now expected to leave as the club prepares for a fresh direction ahead of the new campaign.
According to Sky Germany, discussions have already taken place with Filipe Luis, with the former Flamengo boss emerging as the preferred choice ahead of two unnamed alternatives.
The Brazilian coach impressed during his spell at Flamengo, guiding them to the league title and Copa Libertadores in 2024 before his dismissal in March.