FNKO - Funko CEO Brian Mariotti to step down and take leave of absence

2023-07-13 16:49:01 ET

Lifestyle brand Funko ( NASDAQ: FNKO ) said on Thursday that its chief executive Brian Mariotti will step down from his role and take a leave of absence, effective immediately.

Funko shares rose +1.1% in extended trading. As of Thursday's close, stock had fallen about 7% YTD.

“While I'm going to step away from the day-to-day business to recharge my batteries, I plan to stay active on our Board," said Mariotti in a statement .

The maker of collectibles has appointed director Michael Lunsford to serve as interim CEO. It has also initiated a search for a permanent CEO candidates.

Mariotti will continue to be a part of Funko's board of directors.

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