Funko appoints Netflix executive Josh Simon as new CEO

EVERETT, Wash. - Pop culture lifestyle brand Funko, Inc. (NASDAQ:FNKO), currently trading near its 52-week low at $2.72 and showing a 70% decline over the past year, announced Tuesday that Josh Simon will become its new Chief Executive Officer effective September 1, 2025, succeeding Interim CEO Mike Lunsford. According to InvestingPro analysis, the company’s shares are currently undervalued.

Simon, who most recently served as Vice President of Consumer Products at Netflix, will also join Funko’s Board of Directors. During his five-year tenure at Netflix, Simon oversaw the company’s global merchandise business, live experiences, and the Roald Dahl Story Company. He joins Funko at a challenging time, with InvestingPro data showing the company faces significant debt obligations and declining revenues, with analysts forecasting a 12% sales decline this year.

At Netflix, Simon built the consumer products division, creating merchandise for major titles including Stranger Things, Bridgerton, and Squid Game. He also launched Netflix’s first e-commerce platform and managed relationships with major retailers like Walmart and Target.

Prior to Netflix, Simon held senior management positions at Nike, including Vice President and Head of Global Strategy for product, design, merchandising, and categories. His earlier career included roles at The Walt Disney Company’s Motion Picture Group and DreamWorks-based Color Force Productions.

"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 Funko’s Board, in a press release statement.

Simon, who holds a B.A. in economics from Harvard University, expressed enthusiasm about joining the company: "I am honored to join the team at Funko, an iconic company with a huge fan base that I admire and respect."

Funko, founded in 1998 and headquartered in Washington state, is known for its Pop! vinyl figures and other collectibles. The company maintains a portfolio of brands including Loungefly and Mondo, with operations and partnerships across global consumer markets. With annual revenue of $970.7 million and a market capitalization of $150.6 million, the company faces operational challenges reflected in its weak financial health score. InvestingPro subscribers can access 14 additional key insights and a comprehensive Pro Research Report, offering detailed analysis of Funko’s financial position and growth prospects.

In other recent news, Funko Inc. reported its second-quarter earnings for 2025, which did not meet analyst forecasts. The company posted earnings per share (EPS) of $0.48, significantly missing the expected $-0.32, resulting in a 250% surprise. Revenue was reported at $193.5 million, falling short of the anticipated $203.21 million, marking a 4.78% deficit. Following these results, DA Davidson adjusted its price target for Funko, lowering it from $7.00 to $5.00 while maintaining a Buy rating. The revision was attributed to the impact of tariffs and unfavorable expense comparisons affecting Funko’s earnings. These developments highlight the challenges Funko faces in navigating external economic factors. Despite the revenue exceeding expectations, the earnings shortfall prompted a reevaluation of the company’s financial outlook.

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