Smith takes over as Titans' CEO

Tommy Smith announced Tuesday that he will be the new president and CEO of the Tennessee Titans, replacing his father-in-law, Bud Adams, who died last week.

Smith released a statement, on behalf of the Adams family, thanking fans for their support and explaining the situation in the Titans' front office.

Here is that statement:

"As for the Titans organization, we are moving forward with the same goals and a similar structure. 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 theTitans board as a director.

"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. 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."

Bud Adams founded the franchise in 1960 as the Houston Oilers before moving the team to Nashville and renaming the team the Titans following the 1996 season. He died at age 90 due to natural causes.