After two and a half years as the group's UK chief executive, Smith is stepping down with immediate effect and will work as an adviser to the group.
Easterbrook has been at Starcom MediaVest Group for more than 10 years and has had an increasing influence as Smith has spent more time with her family.
At the end of the year, she will move to a new role that "matches her desire to spend more time with her family, as well as broadening her management horizons", said Starcom.
In her final months in the job, Smith has worked to restructure the group's constituent agencies, Starcom and MediaVest, appointing new managing directors in Alastair Bannerman and Steve Parker respectively.
Her departure comes after Starcom last week lost its prized £25m Cadbury account to Omnicom agency PHD. In recent months, it also lost its United Biscuits, Whitbread, Alfa Romeo and Discovery Networks accounts, while it retained BT's £65m media account.
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