Smith served as CEO for almost 17 years, having first taken on the position in August 2006.
However, writing in a post on her LinkedIn page, Smith said she would now step away from the “intense” day-to-day requirements of being CEO and transition into an advisory role.
“I am excited for this new challenge as this will allow me to explore some new opportunities and strategic projects alongside [Pinnacle owner] Magnus Hedman – while still remaining close to the strategy and support of the beloved Pinnacle team,” Smith said.
“Throughout my time at Pinnacle, the company has grown in both scope and size, often seeing opportunities to be a market leader. My passion for the industry and the people in the industry will never leave me.
“I have focused on building a diverse and experienced management team within Pinnacle that allows me to move into this next phase of my career with the confidence that Pinnacle is in good hands.
“I hope I have created a lasting legacy in my time as Pinnacle’s CEO, as I have always said it is an honour to have the privilege to lead such an incredible brand and organisation.”
Smith also confirmed in the post that Pinnacle has already commenced a search to identify and appoint her replacement.
“This is an exciting time and I’m so grateful for the team at Pinnacle which have become friends and family,” Smith said. “The culture of Pinnacle is unique and one of the many attributes that makes it such a special company.
“Many thanks to everyone who has made not only the last 17 years at Pinnacle but the previous 11 years in this fabulous industry such a special part of my life. I’m forever grateful and humbled.”