Funko’s ‘difficult step’ of C-suite shakeup ‘makes sense,’ says Jefferies

After Funko announced a set of leadership changes that include a C-suite management shakeup, a COO role creation, and the introduction of an execution consultant, Jefferies analyst Andrew Uerkwitz said he believes "this difficult step makes sense" following "several missteps" over the last two quarters. The hiring of professionals with experience in operations and execution at the multi-billion dollar business level "should be impactful to course correct some of the internal operational growing pains," argues Uerkwitz, who has a Buy rating and $15 price target on Funko shares.