Funko Renames Michael Lunsford as Interim CEO
Funko, Inc. appointed Michael Lunsford as Interim Chief Executive Officer, effective July 5, 2025, following Cynthia Williams' departure from the role. Williams, who started as CEO on May 20, 2024, served for just over a year. The company's Q1 2025 earnings report highlighted a concerning 11. 6% decline in net sales, amounting to $190.
7 million, alongside a widened net loss of $28 million compared to the previous year. Lunsford, who previously served as interim CEO during Brian Mariotti's leave of absence, aims to leverage his experience to guide the company through its current challenges. The Board of Directors expressed gratitude for Williams' contributions and emphasized the need for leadership change to enhance shareholder value. Lunsford affirmed his belief in Funko's untapped potential, citing its iconic brand and dedicated workforce. He plans to address recent global business challenges while focusing on long-term growth strategies.
The Board has tasked him with accelerating organic growth and exploring strategic options for the future.