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Published 16:17 8 Nov 2021 GMT
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"My belief was that we would continue our progression this season. I understand the football industry and of course, I respect the owners decision, but I felt that with important players soon returning to full fitness we would achieve a top half finish.
Smith, who is a boyhood Villa fan, also highlighted the improvements he made on the pitch, including the development of Jack Grealish, who moved to Manchester City in the summer.
"One of my roles as Head Coach at Aston Villa was to improve individual players to enhance on-field performance for the team," he said.
"Playing a part in developing a player who would be transferred for a British record transfer fee, along with creating a pathway for a thriving academy, are all areas in which I feel I’ve more than contributed. I hope the culture and environment that has been created at both Bodymoor Heath and Villa Park will continue to flourish."
Despite the owners cutting Smith's time at the club short, he nonetheless thanked them as well as the supporters for their backing of him in his three years at Villa.
Smith said: "I would like to express my gratitude to the owners, Nassef Sawiris and Wes Edens, in giving me the opportunity to manage this special club. I would also like to thank the CEO, Christian Purslow, with whom I enjoyed an excellent working relationship as well as the two Sporting Directors I worked alongside, Johan Lange and Jesus Garcia Pitarch. To the coaches, staff and players, my sincere thanks to each and every one of them.
"Finally, to the Aston Villa fans who showed me nothing but love and support from my first day in the job to my last, a heartfelt thank you from my family and I. The Aston Villa board’s aims and ambitions are to take our club back into European football and I would love nothing more than seeing the club achieve that. I’ve always said that I was simply a custodian of this great football club, and my aim was to leave it in a better place than I found it. I believe that together we have achieved that.
"UTV."
The likes of Frank Lampard, Roberto Martinez and Ralph Hasenhuttl have been touted as early contenders for the job.
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