Smith served the group for 26 years and was a member of the SABMiller executive committee for five years.
Lippert, who will take up the presidency and membership of the executive committee on January 1 2011, is currently president of Bavaria SA in Colombia.
Graham Mackay, chief executive of SABMiller, said: “I am confident that Karl, an experience and respected SABMiller manager, will continue to drive our business in the region, and deliver further value enhancing growth.”