Funko Names Nike and Netflix Exec Josh Simon as CEO

Funko has named Josh Simon as its new CEO, effective Sept. 1. Simon joins from Netflix, where he was VP of consumer products, and previously worked at Nike as VP and head of global strategy for product, design, merchandising, and categories. He replaces interim CEO Mike Lunsford, who will continue to serve on the board. Funko recently reported a Q2 net sales decrease of 22% to $193.5 million and a net loss of $41 million.

Funko Inc., a leading producer of pop culture collectibles, has appointed Josh Simon as its new CEO, effective September 1. Simon joins the company from Netflix, where he served as the vice president for consumer products, overseeing the streaming network's merchandise business, live experiences, and the Roald Dahl Story Company [1]. Prior to Netflix, Simon held senior management roles at Nike and The Walt Disney Company.

Simon's appointment comes after Funko reported a challenging second quarter, with a 22% drop in sales to $193.5 million and a net loss of $41 million. The company's last profit was in the second quarter of 2024, when it earned $5.4 million. The financial struggles have been attributed to disruptions from U.S. tariff policies, which led to paused orders from direct import customers and a costly shift of production out of China [2].

Interim CEO Mike Lunsford, who will continue to serve on the board, attributed the quarter's performance to "a dynamic and uncertain tariff environment." He noted that the company has implemented cost-cutting measures, including a 20% workforce reduction, to mitigate the impact of these external shocks.

Funko's stock has been volatile following the earnings report. The company's market capitalization stood at $159.8 million after the report, down from $3.66 before the earnings [2].

Simon's appointment signals a significant shift in Funko's leadership as the company looks to navigate its financial challenges. His extensive experience in entertainment and consumer products is seen as a strategic asset for the company's future growth.

References:

[1] https://www.geekwire.com/2025/funko-names-netflix-vet-as-new-ceo-a-week-after-pop-culture-collectibles-maker-reported-41m-loss/
[2] https://finance.yahoo.com/news/top-5-analyst-questions-funko-053614824.html