Andrew Perlmutter to become Chief Executive Officer
Brian Mariotti to become Chief Creative Officer and Continue as Director
EVERETT, Wash.–(BUSINESS WIRE)– Funko, Inc. (“Funko,” or the “Company”) (Nasdaq: FNKO), a leading pop culture consumer products company, today announced its executive leadership transition plan, designed to maintain Funko’s signature creative leadership, while positioning the company to deliver long-term growth and shareholder value.
Pursuant to the transition plan, Andrew Perlmutter, President, is expected to be appointed Chief Executive Officer (“CEO”), and Brian Mariotti, Funko’s CEO, is expected to transition to the newly created role of Chief Creative Officer (“CCO”), and continue to serve as a member of the Board of Directors. The leadership changes are expected to be effective January 3, 2022 and will enable a phased transition period that allows both leaders to uniquely contribute to the next phase of Funko’s growth. As CCO, Mr. Mariotti will be able to concentrate more fully on the creative decisions that remain central to Funko’s success. His creative oversight will include product innovation, fan engagement, business development, M&A and Funko’s Digital Pop! product line.
Mr. Perlmutter brings extensive experience in collectibles, toys and games, and both a deep and broad background with Funko. Mr. Perlmutter first joined the Company as Senior Vice President of sales in 2013 and was promoted to President in 2017. As President, Mr. Perlmutter has oversight over key strategic and operational functions, and most notably leads the Company’s four-pillared approach to deliver long-term growth. Mr. Perlmutter is a proven leader with broad-ranging support throughout the organization.
“I’m incredibly proud of what we’ve accomplished at Funko. We built a small company into the leading pop culture platform, offering our fans across the globe a way to interact and connect with some of their most beloved icons. This transition will allow me to remain closely involved with the business while focusing more exclusively on the creative and fan-centric areas I am passionate about,” said Brian Mariotti, Chief Executive Officer. “We have an amazing set of opportunities in front of us, and there isn’t a better person to lead us than Andrew. His experience and vision will be critical in delivering the next phase of Funko’s growth.”
“I’m honored to assume the role of CEO in January, while maintaining the longstanding and fruitful partnership Brian and I have enjoyed for many years,” said Andrew Perlmutter, President. “With the transition, we plan to continue to pursue a four-pillar approach that focuses on leveraging our core Pop! platform; driving additional revenue streams through product diversification; accelerating growth in our direct-to-consumer channel; and expanding our international business.”
Conference Call and Webcast
The Company will host a conference call at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time) today, August 5, 2021, to further discuss the leadership changes as well as its second quarter results and business outlook. A live webcast and replay of the event will be available on the Investor Relations section on the Company’s website at investor.funko.com. The replay of the webcast will be available for one year.
Headquartered in Everett, Washington, Funko is a leading pop culture consumer products company. Funko designs, sources and distributes licensed pop culture products across multiple categories, including vinyl figures, action toys, plush, apparel, housewares and accessories for consumers who seek tangible ways to connect with their favorite pop culture brands and characters. Learn more at www.funko.com, and follow us on Twitter (@OriginalFunko) and Instagram (@OriginalFunko).