Renney also will join Smith, chief financial officer Paul Delparte and chief business officer Mike Ross to form Hockey Canada's executive leadership team.
"Hockey Canada is a world-leading organization," Smith told the Hockey Canada website. "Our role nationally and internationally continues to evolve, and I look forward to continuing to work alongside Tom, Paul, Mike, and the board of directors."
Smith has been with Hockey Canada since 1995, and was named chief operating officer in 2007.
Renney, who has led Hockey Canada since 2014, said he believes the promotion will help Hockey Canada better spread the game throughout Canada and elsewhere.
"I see an opportunity for Hockey Canada to be more effective in delivering on our growing mandate here in Canada and internationally by separating the roles of president and chief executive officer, and our board of directors has endorsed my view," Renney said. "Scott and I have very complementary skillsets and approaches, but just as importantly this also allows us to recognize Scott's demonstrated abilities as a leader and high-performer with a commitment to, and passion for, the game."