Everett, Wash.-based Funko, makers of pop culture collectibles, named Josh Simon as the company’s new CEO. The move comes on the heels of rough second-quarter earnings in which the company reported a $41 million loss.
Simon replaces interim CEO Mike Lunsford, who took the helm last month when Funko’s board of directors moved on from the short tenure of Cynthia Williams, who was hired from Wizards of the Coast in May 2024.
Simon spent more than five years at Netflix as vice president for consumer products, overseeing the streaming network’s merchandise business, live experiences, and the Roald Dahl Story Company. He built and scaled the division and created a broad range of products for Netflix’s biggest titles, such as “Stranger Things,” “Bridgerton,” “Squid Game” and more.
Simon also launched Netflix’s first e-commerce platform for consumer products and managed relationships with retailers including Walmart, Target, and others.
Prior to Netflix, Simon held several senior management roles at Nike, most recently as the vice president and head of global strategy for product, design, and merchandising categories. A Harvard University graduate, Simon also spent more than six years at The Walt Disney Company.
“Josh is an exceptional leader and his extensive experience in entertainment and consumer products is exactly what Funko needs in its next CEO,” said Charles Denson, chairman of the board of Funko, in a news release.
The change in leadership comes as Funko, makers of its signature Pop! figurines, reported difficult financial news last week. After a 22% drop in sales during the second quarter, Funko has now lost $61 million in the first six months of 2025, more than four times its $14.7 million loss in all of 2024, the Daily Herald reported. The company’s last profit was in the second quarter of 2024 when it earned $5.4 million.
“As expected, our 2025 second quarter performance was impacted by a dynamic and uncertain tariff environment,” Lunsford said in a statement. “Looking ahead, we expect headwinds to moderate and our business to improve as a result of the actions we’ve taken to cut costs, diversify product sourcing and adjust prices.”
Lunsford said during a conference call on Friday that a workforce reduction of approximately 20% was among cost-cutting measures. The company’s headquarters and flagship retail store are located in downtown Everett, north of Seattle. In 2022, it closed warehouses in Washington state to consolidate distribution work in Arizona.
Before briefly replacing Williams last month, Lunsford was also interim CEO between 2023 and 2024 when he took over for former CEO Brian Mariotti.
Simon’s new role is effective Sept. 1, and he’ll join Funko’s board of directors.
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