Funko Appoints Former Netflix Executive Josh Simon as CEO Amid Financial Challenges
In a significant leadership change, pop culture collectibles company Funko has appointed former Netflix executive Josh Simon as its new Chief Executive Officer, following a challenging second quarter that saw the company post a $41 million loss.
Simon, who brings extensive experience in consumer products and entertainment, will assume the role on September 1, replacing interim CEO Mike Lunsford. During his five-plus years at Netflix, Simon led the streaming giant’s merchandise division, spearheading product development for popular series like “Stranger Things,” “Bridgerton,” and “Squid Game.” He also established Netflix’s first e-commerce platform and managed key retail partnerships with major stores including Walmart and Target.
The appointment comes at a crucial time for the Everett,
Washington-based company, which has seen its financial struggles deepen in 2025. The maker of Pop! figurines reported a 22% decline in sales during the second quarter, contributing to a $61 million loss in the first half of 2025 – more than quadruple its total losses for 2024, which stood at $14.7 million.
Simon’s appointment marks the latest in a series of leadership transitions at Funko. He succeeds Lunsford, who briefly took the helm last month following the departure of Cynthia Williams. Williams had joined from Wizards of the Coast in May 2024, while Lunsford had previously served as interim CEO between 2023 and 2024 after Brian Mariotti’s exit.
Before his tenure at Netflix, Simon held senior positions at Nike, most recently serving as vice president and head of global strategy for product, design, and merchandising categories. The Harvard University graduate also spent more than six years at The Walt Disney Company.
Funko’s board chairman Charles Denson expressed confidence in the new appointment, stating that Simon’s background in entertainment and consumer products makes him ideally suited to lead the company forward.
The leadership change comes amid various cost-cutting initiatives at Funko. During a recent conference call, Lunsford revealed that the company had reduced its workforce by approximately 20%. This follows earlier restructuring moves, including the 2022 closure of Washington state warehouses and the consolidation of distribution operations in Arizona.
Addressing recent challenges, Lunsford noted that while second-quarter performance was affected by uncertain tariff conditions, the company expects improvements ahead due to implemented cost reductions, diversified product sourcing, and price adjustments. Simon will join Funko’s board of directors as part of his new role, as the company works to navigate through its current financial difficulties and chart a course toward recovery.
