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UPDATE 1-American Outdoor Brands CEO out after violation of company policy

(Adds details on co-CEOs, company response, and background)

Jan 15 (Reuters) - Smith & Wesson owner American Outdoor Brands Corp said on Wednesday Chief Executive Officer James Debney has left the company after the board found that he engaged in conduct “inconsistent with a non-financial company policy”.

The company declined to provide more details on the policy that Debney had violated. Debney did not respond to a request for comment.

He was set to lead the company after the spin-off of its Smith & Wesson firearms unit from its outdoor products and accessories business, a plan that was announced in November last year.

The company on Wednesday named executives Mark Smith and Brian Murphy as co-CEOs, with Murphy set to head the outdoor division after the separation, which is expected to take place later this year.

Murphy was president of the outdoor products and accessories unit and Smith the president of the manufacturing services unit, the company said.

Reporting by Uday Sampath and Saumya Sibi Joseph in Bengaluru; Editing by Arun Koyyur and Sherry Jacob-Phillips

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