Tesla has appointed Robyn Denholm, an executive at Telstra, Australia's largest telecommunications company, to replace Elon Musk as board chair, the carmaker said on Thursday.

Denholm will leave her role as chief financial officer and head of strategy at Telstra following a six-month notice period, the statement said.

Already a member of Tesla's board since 2014, she was lauded by the company for her experience in the upper echelons of tech companies in Australia and Silicon Valley. She also served a seven-year stint in the auto industry at Toyota's Australian branch.

Tesla founder Musk agreed to step down from the role of board chair in September as part of a settlement with US regulators, after he was found to have misled investors about stock prices on Twitter. The company also agreed to pay a 40-million-dollar fine.

His successor Denholm said of her appointment, "I believe in this company, I believe in its mission and I look forward to helping Elon and the Tesla team achieve sustainable profitability and drive long-term shareholder value."

Musk in turn praised her "extensive experience in both the tech and auto industries."

Tesla has been at the forefront of developments in electric-powered vehicles, but the company has repeatedly made negative headlines for struggling to turn a profit and for its outspoken founder's confrontational style.