Executive previously held Chief Executive roles at EarthLink and Rhapsody
EVERETT, Wash., Oct. 22, 2018 (GLOBE NEWSWIRE) -- Funko, Inc. ("Funko") (Nasdaq: FNKO), a leading pop culture consumer products company, today announced the appointment of Michael Lunsford to the company’s Board of Directors.
“It is a privilege to join Funko’s Board of Directors at such an exciting time for the company. Funko fandom and its products are a worldwide phenomenon,” said Lunsford. “Funko is well positioned to continue its extraordinary growth and expansion into new categories.”
Mr. Lunsford’s appointment will be effective October 31, 2018. He brings twenty plus years of leading both direct to consumer and B2B companies. In addition to his time as chief executive at EarthLink and Rhapsody, Mr. Lunsford has served as chief executive of RealNetworks, SK Planet, Inc., and shopkick. He has also served on the board of directors of shopkick, Rhapsody, Frankly, Covad, and IslandWood, among others.
“Mike brings unique skills to our Board of Directors. As a key member, he will help us pursue new markets and opportunities as we continue to produce great products for our fanbase in the U.S. and overseas,” said Ken Brotman, Chairman of the Funko Board of Directors and Founding Partner of ACON Investments.
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 https://funko.com/, and follow us on Twitter (@OriginalFunko) and Instagram (@OriginalFunko).
Jessica Piha (Media)
Sean McGowan (Investor Relations)
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding Funko’s future business plans. These forward-looking statements are based on Funko management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause Funko’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: Funko’s ability to maintain and realize the full value of its license agreements; the ongoing level of popularity of Funko products with consumers; changes in the retail industry and markets for Funko consumer products; Funko’s ability to maintain relationships with retail customers and distributors; Funko’s ability to compete effectively; fluctuations in Funko’s gross margin; Funko’s dependence on content development and creation by third parties; Funko’s ability to develop and introduce products in a timely and cost-effective manner; Funko’s ability to obtain, maintain and protect its intellectual property rights or those of its licensors; potential violations of the intellectual property rights of others; Funko’s ability to attract and retain qualified employees and maintain its corporate culture; risks associated with Funko’s international operations; changes in U.S. tax law; foreign currency exchange rate exposure; the possibility or existence of global and regional economic downturns; Funko’s dependence on vendors and outsourcers; risks relating to government regulation; risks relating to litigation, including products liability claims and securities class action litigation; any failure to successfully integrate or realize the anticipated benefits of acquisitions or investments; reputational risk resulting from Funko’s e-commerce business and social media presence; risks relating to Funko’s indebtedness and its ability to secure additional financing; the potential for Funko’s electronic data to be compromised; the influence of Funko’s significant stockholder, ACON, and the possibility that ACON’s interests may conflict with the interests of Funko’s other stockholders; risks relating to Funko’s organizational structure; volatility in the price of Funko’s Class A common stock; and the potential that Funko will fail to establish and maintain effective internal control over financial reporting. These and other important factors discussed under the caption “Risk Factors” in Funko’s quarterly report on Form 10-Q for the second quarter of 2018 and its other filings with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent Funko management’s estimates as of the date of this press release. While Funko may elect to update such forward-looking statements at some point in the future, Funko disclaims any obligation to do so, even if subsequent events cause its views to change. These forward-looking statements should not be relied upon as representing Funko’s views as of any date subsequent to the date of this press release.
Source: Funko, Inc.