Mariotti Out As CEO Of Everett-Based Funko

This announcement in from the Funko folks at the corner of Wetmore and California in downtown Everett, Washington this morning.

Funko, Inc. (“Funko”) (Nasdaq: FNKO), a leading pop culture lifestyle brand, announced that Brian Mariotti will take a leave of absence and cease serving as Funko’s CEO with full support from the company’s Board of Directors. Effective immediately, the Board of Directors appointed director Michael Lunsford as interim CEO and will also commence a thorough search for a new CEO including internal and external candidates. Mariotti remains a member of the Funko Board of Directors.

“I am thrilled that Mike can seamlessly step in, while Brian takes some time. We will continue evolving this fan-first brand for the future in a creative and meaningful way.”

“Funko has been my labor of love for nearly two decades,” said Mariotti. “While I’m going to step away from the day-to-day business to recharge my batteries, I plan to stay active on our Board. I hope to come back and contribute to Funko again in new creative ways. I look forward to seeing our team and fans at San Diego Comic-Con next week.”

“Brian has been the driving force of Funko for years and his contributions are found throughout the company’s product and retail innovations,” said Chairman Charles Denson. “I am thrilled that Mike can seamlessly step in, while Brian takes some time. We will continue evolving this fan-first brand for the future in a creative and meaningful way.”

Lunsford, who joined the Funko Board of Directors in 2018, previously served as Chair of the Compensation Committee and as a member of the Audit Committee. Notably, Lunsford has also previously demonstrated his leadership capabilities by stepping in as interim CEO for two prominent public companies, EarthLink and RealNetworks. In both instances, he adeptly navigated transitional periods following the conclusion of the CEO and founders’ tenures, allowing for smooth continuity and organizational success. This will be the sixth chief executive role for Lunsford.

“Brian and the Funko team have created an iconic and beloved brand, and I am honored to expand my role with the organization in the coming months,” said Lunsford. “In partnership with CFO/COO Steve Nave, President Andrew Perlmutter and the leadership team, we will carefully guide the company’s efforts to grow profitability while continuing to delight our deeply connected fan community. I am very excited to spend time with our fans, employees, investors and partners as we pursue the quest to capture the zeitgeist for pop culture enthusiasts.”

ABOUT FUNKO

Headquartered in Everett, Washington, Funko is a leading pop culture lifestyle brand. Funko designs, sources and distributes licensed pop culture products across multiple categories, including vinyl figures, action toys, plush, apparel, housewares and accessories for consumers who seek tangible ways to connect with their favorite pop culture brands and characters. Learn more at www.funko.com, and follow us on Twitter (@OriginalFunko) and Instagram (@OriginalFunko).