Funko, the renowned creators of pop culture collectibles based in Everett, Washington, have appointed Josh Simon as their new CEO. This decision follows a challenging second-quarter financial report, which revealed a $41 million loss for the company.
Simon steps into the role previously held by interim CEO Mike Lunsford, who assumed the position just last month after Cynthia Williams’ brief tenure. Williams, recruited from Wizards of the Coast in May 2024, was swiftly replaced by the board of directors.
With over five years of experience at Netflix, Simon’s background as the former vice president for consumer products equipped him with valuable expertise in managing merchandise, live experiences, and partnerships. Notably, he spearheaded the development of a diverse range of products for hit Netflix shows like “Stranger Things,” “Bridgerton,” and “Squid Game.” His innovative initiatives also included launching Netflix’s inaugural e-commerce platform for consumer products and overseeing collaborations with major retailers such as Walmart and Target.
Prior to his time at Netflix, Simon held various key positions at Nike, culminating in his role as the vice president and head of global strategy for product, design, and merchandising categories. A Harvard University alumnus, Simon also accrued over six years of experience at The Walt Disney Company.
Charles Denson, chairman of Funko’s board, expressed confidence in Simon’s leadership abilities, stating, “Josh’s extensive background in entertainment and consumer products makes him the ideal candidate to lead Funko as its new CEO.” This announcement was made in a recent news release.
Amidst challenging financial circumstances, Funko reported a significant decline in sales during the second quarter, resulting in a $61 million loss for the first half of 2025. This figure starkly contrasts with the $5.4 million profit generated in the second quarter of 2024, marking a notable downturn in the company’s financial performance.
Lunsford acknowledged the impact of external factors, such as a volatile tariff environment, on Funko’s second-quarter results. However, he expressed optimism about the future, citing cost-cutting measures, diversified product sourcing, and price adjustments as strategies to enhance the company’s resilience moving forward.
As part of its cost-saving initiatives, Funko implemented a workforce reduction of approximately 20%, in addition to realigning its distribution operations by consolidating warehouses in Arizona. The company’s headquarters and flagship retail store remain situated in downtown Everett, near Seattle.
Notably, this leadership transition follows a pattern of interim CEO appointments, with Lunsford previously filling in for Brian Mariotti between 2023 and 2024. Simon’s official commencement as CEO is slated for September 1, and he will also join Funko’s board of directors.
