If you don’t mind, can I take your place?
The prince found a new way to amuse himself, replacing kendama.
I am looking for another genius to replace Steve Jobs.
This word consists of kanji with hiragana attached. Because the hiragana ends with an う sound, you know this word is a verb. The kanji itself means substitute, so we can get to the meaning of this word through that: To replace / to substitute for.
Since this word consists of a kanji with hiragana attached, you can bet that it will use the kun'yomi reading. You didn't learn that reading with this kanji, so here's a mnemonic to help you to remember the か portion.
You have to replace your car (か). It is getting old, and seems like it will explode at any moment, literally.