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Pinnacle CEO Paris Smith has stepped down from her role after 17 years to transition to an advisory position within the company.

As one of the few female CEOs in the industry, Smith was responsible for building the Curaçao-based operator up to become a familiar name in the sector as a high-volume, low-margin giant.

She originally took up the reigns as CEO back in August 2006.

Smith confirmed that the process to identify her successor is underway but did not provide any timeline guidance on when the new CEO would be in situ.

Posting on LinkedIn, Smith confirmed she would be stepping away from the “intense day-to-day requirements of the CEO role” to support the company in an advisory position.

She also added that her new position would allow her to explore strategic projects alongside long-term Pinnacle chair Magnus Hedman.

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. The confidence that has been given to me is greatly appreciated.

“I am excited to be able to focus more on the long-term strategy and business opportunities as I continue to promote, network and create the connections to continue the success of Pinnacle,” Smith concluded.

Hedman said: “In her time at Pinnacle, the company has grown in both scope and size, tackling the evolution of the global sports betting market and carving new market leading paths. She has built a diverse and experienced executive management team that allows her to move into this next phase of her career with the confidence that Pinnacle is in good hands.

“There is no question that Paris Smith leaves a lasting legacy in her time as Pinnacle’s CEO, and we thank her for all that she has done. We are excited to be with her as she continues to blaze new trails in what is already a Hall of Fame career.”