Funko reinstates interim CEO Michael Lunsford

Funko Inc. announced that Michael Lunsford will return as interim CEO effective July 5, 2025, following the departure of Cynthia Williams. Lunsford previously served as interim CEO from July 2023 to May

2024. This leadership change aims to accelerate Funko’s organic growth and explore strategic options to maximize shareholder value, according to Funko chairman Charles Denson. The company owns well-known brands including Funko, Loungefly, and Mondo.

Michael Lunsford’s leadership background

Michael Lunsford has been on Funko’s board since October 2018 and has extensive CEO experience. Before Funko, he led SK Planet, the U. S. ecommerce arm of SK Telecom, and held CEO roles at RealNetworks, Rhapsody, EarthLink, and Shopkick. At RealNetworks, he also served as interim CEO. Lunsford holds an MBA and a bachelor’s degree in economics from the University of North Carolina. His leadership is recognized for guiding companies through successful corporate transitions.

Lunsford’s vision for Funko’s growth

Lunsford stated that Funko has yet to reach its full potential despite its strong brand and passionate fan base. He emphasized the importance of addressing global business challenges while focusing on long-term profitable growth. Lunsford highlighted Funko’s licensing and retail partnerships and a highly capable team as key assets. The goal is to delight fans while navigating current market constraints and seizing growth opportunities.

Funko’s

Funko’s direct-to – consumer sales strategy. Funko has traditionally operated as a wholesale business but has shifted focus toward direct-to – consumer (DTC) sales since

2017. According to Josh Smiley, Funko’s global head of technology and digital, about 25 percent of the company’s sales came from DTC channels by mid-2024, with continued growth expected. This strategic pivot supports Funko’s plans to enhance customer engagement and increase margins through its own retail channels.

Board’s mandate to accelerate growth and find new CEO

The Funko board tasked Lunsford with accelerating the company’s organic growth and exploring all financial and strategic options, including identifying a permanent CEO. Chairman Charles Denson remarked that Lunsford’s experience makes him well suited to lead this transition. This interim appointment reflects Funko’s commitment to delivering full shareholder value amid shifting market conditions and leadership changes.

How Funko prepares for future challenges

Funko’s leadership change comes as the company prepares for holiday sales and navigates a complex global environment. Lunsford’s return signals a focus on stability and strategic execution. With DTC sales growing and a strong brand portfolio, Funko intends to leverage its assets to meet evolving consumer demands. The company’s ability to adapt will be crucial as it pursues long-term growth in a competitive collectibles market.

Why interim leadership matters for Funko’s success

Bringing back a proven interim CEO like Michael Lunsford provides Funko with experienced guidance during a critical corporate transition. Lunsford’s track record of managing ecommerce and technology-driven companies aligns with Funko’s current priorities. Interim leadership can help maintain momentum, reassure investors, and set the stage for a smooth handoff to a new permanent CEO, ultimately benefiting Funko’s business performance and shareholder returns.