Tech Industry Changes: Funko Appoints New CEO; Nintex Elevates Vice Presidents; Leafly Welcomes President

Cynthia Williams, a veteran of the video game industry who most recently worked at Wizards of the Coast, has been named the CEO of the pop culture collectibles company Funko, based in Everett, Washington. Prior to her role at Wizards, where she served as president, she also worked in leadership positions at Microsoft’s Xbox team and Amazon’s finance and fulfillment departments. Williams stated that her experience with dedicated fans of popular games like Dungeons & Dragons and Xbox will aid in creating products that will resonate with Funko’s passionate fan base. She will take over the role from Michael Lunsford in May and will also join the board of directors.

Funko has faced some challenges over the past year, with a decrease in revenue and the departure of key personnel, including its president. The company reported a net loss in the first quarter of this year, but its stock was up by 10% in after-hours trading. Despite this, shares have been down nearly 40% over the past 12 months, leading to layoffs and changes in leadership. Williams’ appointment as CEO comes at a critical time for the company as it looks to turn things around and regain momentum in the collectibles market.

In other developments across the Pacific Northwest tech industry, Nintex, a Bellevue-based workflow automation company, announced the promotion of two executives: Christian Lucarelli as vice president of the global partner program, and Tony Thomas as vice president of global customer experience. Both executives bring a wealth of experience to their new roles, with backgrounds in tech companies like AvePoint, IBM, and Skuid. Nintex was acquired by private equity firm TPG Capital in 2021, and Amit Mathradas, a tech industry veteran, joined as CEO last year.

Additionally, Seattle-based cannabis company Leafly appointed Peter Lee as its new president and chief operating officer. Lee, a cannabis industry veteran, previously served as president of Merida Merger Corporation, which recently merged with Leafly. Despite a decline in revenue and stock price over the past year, Leafly is hopeful that recent changes in regulations around cannabis will provide new opportunities for growth and expansion. The company is looking to attract new customers and capitalize on changes in the industry.

Levi Reed, a well-known figure in Seattle’s startup ecosystem, launched Twig Ventures, an angel syndicate focused on sustainable consumer products. With experience at Founder Institute and Amazon, Reed is leading the initiative with John Sandoval, a marketing manager at Intuit. The move reflects a growing interest in environmentally friendly products and services, as consumers and investors prioritize sustainability in today’s market. This new venture by Reed and Sandoval aims to support companies that align with these values.

In conclusion, the Pacific Northwest tech industry continues to see significant changes in leadership and new ventures. With experienced executives like Cynthia Williams taking the helm at Funko and others like Christian Lucarelli and Peter Lee making moves in their respective companies, the region remains a hotbed for innovation and growth. As businesses adapt to changing market conditions and consumer preferences, new opportunities emerge for startups and established companies alike to make a mark and drive success in the evolving tech landscape.