EVERETT, Wash., July 23, 2019 (GLOBE NEWSWIRE) -- Funko, Inc. ("Funko,” or the “Company”) (FNKO), a leading pop culture consumer products company, announced today the appointment of Jennifer Fall Jung as Chief Financial Officer, effective August 13, 2019. Ms. Fall Jung will succeed Russell Nickel, whose planned departure was previously announced on April 16, 2019.
Ms. Fall Jung brings over 20 years of experience in financial and executive leadership roles at Gap, Inc., most recently serving as Senior Vice President, Corporate Finance and Investor Relations. In this role, Ms. Fall Jung oversaw long-range financial planning, financial portfolio management and communication to the investment community. During her tenure at Gap, Inc., Ms. Fall Jung also served in several roles at Old Navy, including Chief Financial Officer and Senior Vice President of Old Navy Global and Head of International, where she oversaw four years of consecutive sales growth for the global, multi-channel retailer, launched new international markets, and optimized the brand’s real estate footprint. In addition, Ms. Fall Jung’s experience includes e-commerce, capital allocation, logistics and distribution, and inventory management. Other previous roles include Chief Financial Officer and Senior Vice President of Gap North America and Chief Financial Officer and Vice President of Strategy and Real Estate for Gap, Inc. Outlet.
“On behalf of the entire Company, I’m pleased to welcome Jennifer to the Funko team,” said Brian Mariotti, Funko’s Chief Executive Officer. “Funko is at the epicenter of pop culture, and we believe Jennifer’s proven track record at an iconic company with deep consumer brand loyalty will be invaluable as we introduce new product lines and engage fans with the content they love. With Jennifer’s experience in operations and growing international markets, I’m confident that Funko will be well positioned to further diversify our portfolio and extend our geographic reach as we capitalize on the 500-billion-dollar global pop culture market.”
“I was drawn to Funko for its fast and forward-thinking approach to pop culture, which has contributed to the Company having one of the largest portfolios in the collectibles industry,” said Ms. Fall Jung. “It’s clear that the Funko brand is resonating with consumers globally, and I look forward to working closely with this creatively talented team to enhance Funko’s international partnerships, operations and engagement, as well as to deliver sustainable shareholder value creation.”
As previously announced, Mr. Nickel has agreed to remain with the Company in an advisory capacity through the end of the year to facilitate the transition of the Chief Financial Officer role.
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, games, 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/.
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 Jennifer Fall Jung’s service as Chief Financial Officer, further diversifying our portfolio and extending our geographic reach, enhancing Funko’s international partnerships, operations and engagement, and delivering sustainable shareholder value creation. These forward-looking statements are based on 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 our 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: our ability to attract and retain qualified employees and maintain our corporate culture; our ability to maintain and realize the full value of our license agreements; the ongoing level of popularity of our products with consumers; changes in the retail industry and markets for our consumer products; our ability to maintain our relationships with retail customers and distributors; our ability to compete effectively; fluctuations in our gross margin; our dependence on content development and creation by third parties; our ability to develop and introduce products in a timely and cost-effective manner; our ability to obtain, maintain and protect our intellectual property rights or those of our licensors; potential violations of the intellectual property rights of others; risks associated with counterfeit versions of our products; risks associated with our international operations; changes in U.S. tax law; foreign currency exchange rate exposure; the possibility or existence of global and regional economic downturns; our 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 our e-commerce business and social media presence; risks relating to our indebtedness and our ability to secure additional financing; the potential for our electronic data to be compromised; the influence of our significant stockholder, ACON, and the possibility that ACON’s interests may conflict with the interests of our other stockholders; risks relating to our organizational structure; volatility in the price of our Class A common stock; and the potential that we will fail to establish and maintain effective internal control over financial reporting. These and other important factors discussed under the caption “Risk Factors” in our quarterly report on Form 10-Q for the quarter ended March 31, 2019 and our 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 management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release.