Smith, who has been with the network since it launched two decades ago, confirmed he was gay when HuffPo asked him if Ailes prevented him from coming out of the closet.
"That's not true. He was as nice as he could be to me. I loved him like a father," Smith, 52, said of Ailes, who was accused of sexual harassment by former Fox News anchor Gretchen Carlson in July.
After allegations from other women surfaced, Ailes resigned from Fox News, where he had been the CEO since its launch in 1996, and received $40 million in an exit agreement.
"I trusted him with my career and with - I trusted him and trusts were betrayed," Smith said of Ailes. "People outside this company can't know [how painful that betrayal was]. This place has its enemies, but inside, it was very personal, and very scarring and horrifying."
There were also reports Ailes used gay slurs towards rivals. When HuffPo asked Smith if that were true, the anchor said the anti-gay language allegations were false.
"No, never. He treated me with respect, just respect," Shep said. "I wasn't new in the business when I came here. I'd been doing reporting for 12 years, but I wasn't old in it either, and he gave me every opportunity in the world and he never asked anything of me but that we get it right, try to get it right every day. It was a very warm and loving and comfortable place."