Smith, a long-time employee at the governing body, is set to head overseas for what Motorsport Australia describes as an “international, high-profile position in the motorsport industry”.

His exit will come after the Formula 1 Australian Grand Prix, with Motorsport Australia set to begin an “extensive recruitment” effort in the coming weeks.

“Having worked with Mike over the first few months of my time with the organisation, it’s clear that he has been an asset to this organisation and the sport,” said recently-appointed CEO Sunil Vohra.

“While it’s disappointing for Motorsport Australia to lose Mike, we know that this is an opportunity that he has been considering since early last year and has now accepted that new role overseas. We are certainly pleased to be supporting him as he takes that next step in his career.

“We look forward to working with Mike until he departs the organisation after the Australian Grand Prix and celebrating his many achievements.”

Smith said the decision to leave Motorsport Australia was a tough one.

“Having been at Motorsport Australia for more than 20 years, this decision was not an easy one to make at all and is certainly a very emotional time for me,” he said.

“I’ve made lifelong friends and enjoyed nearly every moment working in a sport that people are so passionate about.

“It will be a bittersweet, final few weeks at Motorsport Australia as I bid a fond farewell to the people who make our sport great, in particular my past and present colleagues at Motorsport Australia who have made these last two decades such a rich and rewarding experience.”

The news caps off a big day for senior staff changes, with Supercars replacing its TV boss, while Motorsport Operations Manager Paul Martin is also set to depart.