The board of directors at American Outdoor Brands Corp., having determined that he “engaged in conduct inconsistent with non-financial company policy,” has removed James Debney as president, chief executive and board member. In his place it has appointed Mark P. Smith and Brian D. Murphy as co-presidents and co-chief executive officers. Smith had been serving as president of the company’s Manufacturing Services Division and Murphy as president of its Outdoor Products & Accessories Division. The company will nevertheless be proceeding with plans to spin off its outdoor products and accessories business as a tax-free stock dividend to its stockholders in the latter half of 2020. The chief financial officer, Jeffrey D. Buchanan, will be taking the lead on the transaction, which will result in two independent publicly traded companies: Smith & Wesson Brands (firearms) and American Outdoor Brands (outdoor products and accessories). Once the transaction is complete, Smith will become president and CEO of the former and Brian D. Murphy president and CEO of the latter. The current structure’s many brands include Smith & Wesson, M&P, Thompson/Center Arms, Gemtech, Caldwell, Crimson Trace, Wheeler, Tipton, Frankford Arsenal, Lockdown, BOG, Hooyman, Schrade, Old Timer, Uncle Henry, Imperial, Bubba, UST and LaserLyte.