Funko Inc. announced on Thursday that Chief Executive Officer Brian Mariotti will be taking a leave of absence, effective immediately. Mariotti’s return to the figurine maker’s CEO position in December 2021 was prompted by concerns of declining sales. In the wake of Mariotti’s departure, Funko has appointed board member Michael Lunsford as the interim CEO and is initiating a comprehensive search for a new CEO. This search will consider both internal and external candidates.
Although stepping away from his day-to-day responsibilities, Mariotti will continue to serve as a member of Funko’s board. Mariotti expressed his intention to remain actively involved and contribute to the company in new creative ways upon his return. He originally joined Funko as CEO in 2005 following its acquisition by a group of investors, serving in that capacity for several years before transitioning to the role of Chief Creative Officer in January 2022.
Following the announcement, shares of Funko experienced a minor increase of 1.1% during the extended trading session on Thursday, after closing the regular trading day with a 0.7% decline.
