Brian Mariotti steps down as Funko’s CEO

The Funko Pop! manufacturer has appointed Michael Lunsford to serve as interim CEO, and Mariotti will remain on the company's board of directors.
July 14, 2023

Brian Mariotti (pictured) is taking a leave of absence and stepping down as CEO of collectibles giant Funko, effective immediately. 

Mariotti made the move yesterday, but will remain at the company as a board member, according to a release. Funko has tapped board member Michael Lunsford as interim CEO. He’s tasked with finding Mariotti’s successor from internal and external candidates. 

Toycos continue to be hit hard by rising costs of goods and unsold inventory, and Funko is no exception. In Q1 2023, the company reported US$251.9 million in net sales, down 18% from US$308.3 million in 2022. The toymaker also posted a 512% net loss increase to US$60.1 million, which included writing off US$30.1 million in destroyed excess inventory.

Funko appointed Lunsford to its board of directors in 2018, after he spent 20 years leading DTC and B2B companies. He has held several C-suite roles throughout his career, including CEO posts at Georgia-based internet service provider EarthLink and music streamer Napster, and a stint as interim CEO of Washington-based computer company RealNetworks. 

Mariotti was Funko’s longtime CEO from 2005 to 2022 before he retired from the role in January 2022. After less than a year away, he returned as CEO in December 2022 because the company needed to create more profitable growth. Mariotti replaced Andrew Perlmutter as CEO when Perlmutter was made president of the company.

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