If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.
Why Funko fired its CEO after a year, according to Funko
The Trump tariffs have put strain on many companies, but Funko is clearly feeling the pressure more acutely than others.
Popverse's top stories
- Netflix loses its Black Mirror creators as Charlie Brooker and Annabel Jones have used a loophole to get out of their exclusive deal with the streamer
- 3 essential Superman stories to watch or read after seeing the new James Gunn movie from DC Studios [FYC]
- Netflix Wakfu fans rejoice: Ogrest graphic novel prequel hits Kickstarter July 15
It has been a rough couple of years for Funko. They experienced a huge boon during the pandemic as people purchased little trinkets to decorate their houses, but failed to adapt to a reduction in demand when people went out into the world again. Now, looming uncertainty surrounding Trump’s tariffs is forcing them to raise prices and, barely a year after she took the role, they’ve removed their CEO, Cynthia Williams.
Cynthia Williams became the CEO of Funko in May 2024 when she moved from Magic: The Gathering and Dungeons & Dragons publisher Wizards of the Coast, but her tenure has been riddled with difficulty. The recent with-they-won’t-they relationship the US government has with tariffs has had a huge impact on production costs and seen the company faced with the possibility of being unable to pay its loans. Companies like Microsoft can raise the price of their consoles, but the entire appeal of a Funko Pop! is that it is a cheap figurine for fans to grab on a whim; raising their prices puts that selling point in danger.
Mike Lunsford, who previously served as interim CEO from July 2023 to May 2024, is once again taking on interim CEO duties for Funko. “We believe a change in leadership is necessary to deliver full shareholder value and believe Mike’s appointment positions us accordingly,” Board Chairman Charles Denson explained while announcing Williams’ departure.
The sudden departure of Funko’s CEO likely won’t have a huge impact on fans in the immediate future, but it is certainly a sign of the dire financial situation the company finds itself in. With material, production, and shipping costs fluctuating on an almost monthly basis this year, it is difficult to imagine just what the company’s future holds.
Want to know what's coming up next in pop culture? Check out Popverse's guides to:
Follow Popverse for upcoming event coverage and news
Find out how we conduct our review by reading our review policy
Let Popverse be your tour guide through the wilderness of pop culture
Sign in and let us help you find your new favorite thing.
Comments
Want to join the discussion? Please activate your account first.
Visit Reedpop ID if you need to resend the confirmation email.