American Auto and Energy firm Tesla on Thursday announced Robyn Denholm as its new chairman replacing incumbent chairman Elon Musk.

Robyn has been a prominent board member of the company since 2014. Ms. Denholm is currently the Chief Financial officer of Telstra, which dominates telecommunications in Australia.

The decision comes after Elon Musk was charged with claims of fraud by the US regulators. However, Elon Musk will continue to be Tesla’s chief executive.

Ms. Denholm will be taking charge after she completes her notice period of six months with Telstra.

Wishing the newly elected chairman, Elon Musk said, “Robyn has extensive experience in both the tech and auto industries, and she has made significant contributions as a Tesla Board member over the past four years in helping us become a profitable company.”

“I look forward to working even more closely with Robyn as we continue accelerating the advent of sustainable energy”, he added.

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