Smith, Adams' son-in-law, released a statement thanking fans and friends for their support before outlining the changes in the Titans' front office.
"As for the Titans organization, we are moving forward with the same goals and a similar structure," Smith said in a statement on behalf of the Adams families. "As a family, we have agreed that I will be president and CEO of the Titans; and additionally Susie Adams Smith and Amy Adams Hunt will serve as co-chairpersons and Kenneth Adams IV will join the Titans board as a director."
Smith also revealed that he already has begun to take an active role in running the franchise.
"We will be taking all the necessary steps, in concert with the league office, to remain in compliance with league rules in our ownership structure," Smith said. "That process will not be immediate, but it has begun. Until we gain that approval, we will stay out of the spotlight, but know that we are directing the organization and staying informed of daily activities."
Adams founded the franchise in 1960 as the Houston Oilers before moving the team to Nashville and renaming them the Titans after the 1996 season. He passed away last week in his Houston home at age 90 due to natural causes.