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Netflix’s vice president of global consumer products, Josh Simon, will leave the streamer to become chief executive of Funko on September 1 and join the toymaker’s board, succeeding interim chief executive Mike Lunsford. The move follows a summer leadership shuffle at Funko that began when Lunsford returned to the interim role in early July after the departure of a short-tenured permanent chief executive.
Simon has overseen Netflix’s merchandise program and live experiences for more than five years, launching the company’s first consumer-products e-commerce platform and managing retail partnerships with major chains. Before Netflix he held senior posts at Nike and worked at Disney’s film group, experience Funko’s board chairman Charles Denson cited in welcoming him to the role. Simon said he is “honored” to lead a fan-driven brand and sees room to broaden licensing and grow the business for customers and shareholders.
Funko enters the transition amid mixed operating trends. In results released last week, the company reported second-quarter net sales of $193.5 million, down 22% year over year, and a net loss of roughly $41 million. Management pointed to a “dynamic and uncertain” tariff backdrop weighing on the quarter. Lunsford said the environment complicated pricing and demand, and the company has been sharpening costs while focusing on core franchises.
Shares have been volatile around the announcement; FNKO recently traded near $2.72 in U.S. markets. Investors will look for early signals of Simon’s strategy as he steps in after a period of turnover that saw multiple leadership changes since 2023, with Lunsford twice serving as interim chief executive.
