Burlington vs Visa: Founders, CEOs and History
Burlington was founded in 1972 by Monroe Milstein and is led by Michael O'Sullivan. Visa was founded in 1958 by Dee Hock and is led by Ryan McInerney.
Company facts
Burlington
- Founded
- 1972
- Headquarters
- Burlington, New Jersey
- Current CEO
- Michael O'Sullivan
- Employees
- 83,309
Visa
- Founded
- 1958
- Headquarters
- San Francisco, California
- Current CEO
- Ryan McInerney
- Employees
- 34,100
Founders
Burlington
Monroe Milstein
Monroe G. Milstein grew up in his family's wholesale outerwear business in New York.
Visa
Dee Hock
Dee Hock (1929-2022) was the founding CEO of National BankAmericard Inc., the bank-owned company that took over the BankAmericard licensing system from Bank of America in 1970 and adopted the Visa name in 1976.
CEOs and their tenures
Burlington
- Monroe Milstein1972–2006
Founder and Chief Executive Officer
Milstein opened the first Burlington Coat Factory in Burlington, New Jersey, in 1972, broadened it from discount coats into year-round family apparel, shoes, baby and home goods, and took it public in 1983.
Source - Mark Nesci2006–2008
Chief Executive Officer
A 37-year Burlington veteran, Nesci became CEO in 2006 after Bain Capital took the company private for about $2.06 billion. He retired in December 2008, remaining an equity investor and senior adviser to the board.
Source - Tom Kingsbury2008–2019
President and Chief Executive Officer
A former Kohl's senior executive, Kingsbury was hired by Bain Capital in December 2008 to revamp buying, inventory management and the supply chain.
Source - Michael O'Sullivan2019–present
Chief Executive Officer
O'Sullivan joined from Ross Stores, where he spent 16 years and finished as president and COO, and became CEO around September 16, 2019.
Source
Visa
- Alfred F. Kelly Jr.2016–2023
Chief Executive Officer
Serving as CEO from 2016 to 2023, he heavily modernized the massive legacy network, aggressively integrating fintechs and preparing the network to process highly complex cryptocurrency transactions.
Source - Ryan McInerney2023–present
Chief Executive Officer
McInerney joined Visa in 2013 as president after senior roles at JPMorgan Chase and became chief executive on February 1, 2023, succeeding Alfred F. Kelly Jr.
Source
Timeline: Burlington and Visa side by side
1958Visa
BankAmericard launched
Bank of America launched BankAmericard, the direct predecessor to Visa.
1972Burlington
Burlington Coat Factory opens
Monroe Milstein bought a coat outlet in a former factory building in Burlington, New Jersey, and sold brand-name coats at discount prices, the start of Burlington Coat Factory.
1976Visa
Visa name adopted
The network adopted the Visa name to support international acceptance and brand consistency.
1983Burlington
First public offering
Burlington Coat Factory Warehouse Corporation went public for the first time, funding expansion from a regional discounter into a national chain with year-round apparel, shoes, baby and home departments.
1989Burlington
Cohoes Specialty Stores acquired
Burlington bought the Cohoes Specialty Stores off-price chain from upstate New York, including a 50 percent stake in the Cohoes Commons building; a few stores still traded as Cohoes Fashions decades later.
2006Burlington
Bain Capital takes Burlington private
Bain Capital acquired Burlington Coat Factory for about $2.06 billion, ending 34 years of Milstein family control. Long-time executive Mark Nesci became chief executive.
2008Burlington
Tom Kingsbury named CEO
Former Kohl's executive Thomas Kingsbury became president and CEO in December 2008, succeeding Mark Nesci, and began overhauling buying, inventory management and the supply chain.
2008Visa
Visa IPO
Visa became a public company, changing the economics from a bank association structure to a shareholder-owned company.
2013Burlington
Return to the stock market
Burlington Stores priced its IPO on October 2, 2013, selling 13.3 million shares at $17 each for about $226 million, and listed under the ticker BURL.
2016Visa
Alfred F. Kelly Jr. becomes CEO
Alfred F. Kelly Jr. became CEO of Visa in 2016. Chief executive of Visa from December 2016 to January 2023, when Ryan McInerney succeeded him; Kelly then served as executive chairman.
2019Burlington
Michael O'Sullivan becomes CEO
Former Ross Stores president and COO Michael O'Sullivan succeeded Tom Kingsbury as CEO around September 16, 2019, and later launched the Burlington 2.0 plan of leaner inventories and smaller stores.
2020Burlington
Online sales end and stores close for the pandemic
On March 5, 2020, Burlington said it would shut its e-commerce business. Days later pandemic lockdowns closed its stores, and fiscal 2020 revenue fell to $5.76 billion with a $216.5 million net loss.
2020Visa
Acquired Plaid (abandoned)
Visa acquired Plaid (abandoned) for $5.3 billion. Visa agreed in January 2020 to buy US data-connectivity fintech Plaid for USD 5.3 billion.
2022Visa
Tink acquisition
Visa completed its purchase of Stockholm-based open banking platform Tink in March 2022.
2023Burlington
Bed Bath & Beyond leases
Burlington won 44 Bed Bath & Beyond leases for $12 million at the June 2023 bankruptcy auction, the largest share of the 109 sold, and later reported 62 former Bed Bath & Beyond leases in total.
2023Visa
Ryan McInerney becomes CEO
Ryan McInerney became Visa's CEO after serving as president.
2025Burlington
Joann leases
After Joann's second bankruptcy, Burlington agreed in April 2025 to take over 45 Joann store leases, many of which became part of its fiscal 2026 opening program.
2025Visa
Revenue reaches $40.0B
Visa reported $40.0 billion in fiscal 2025 net revenue.
2026Burlington
Record fiscal 2025 results
Burlington reported fiscal 2025 total revenue of $11.57 billion and net income of $610.2 million, and ended the year on January 31, 2026, with 1,212 stores.
2026Burlington
Tariff refunds put into prices
In the second quarter of fiscal 2026, sales rose 11 percent to $2.998 billion. Burlington received $55 million in tariff refunds and said it would reinvest them in lower prices; the store count reached 1,287.
2026Burlington
Headquarters move to Philadelphia announced
On September 3, 2026, Burlington said it will invest $370 million to move its headquarters from Burlington Township, New Jersey, to Schuylkill Yards in Philadelphia, in phases from late 2028 or early 2029.
Acquisitions
Burlington
- Joann store leases2025Undisclosed
- Bed Bath & Beyond store leases2023$12M
- Burlington Coat Factory (taken private by Bain Capital)2006$2.1B
- Cohoes Specialty Stores (Cohoes Fashions)1989Undisclosed
Questions about Burlington vs Visa
Who is the CEO of Burlington Stores, Inc. and Visa Inc.?
Burlington Stores, Inc. is led by Michael O'Sullivan and Visa Inc. is led by Ryan McInerney. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Burlington Stores, Inc. founded vs Visa Inc.?
Visa Inc. was founded in 1958 — 14 years before Burlington Stores, Inc., which was founded in 1972. Visa Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Burlington Stores, Inc..
How many employees does Burlington Stores, Inc. have compared to Visa Inc.?
Burlington Stores, Inc. employs approximately 83,309 people, while Visa Inc. employs approximately 34,100. Burlington Stores, Inc. has the larger workforce at 83,309 employees, compared to Visa Inc.'s 34,100. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Burlington Stores, Inc. and Visa Inc. headquartered?
Both Burlington Stores, Inc. and Visa Inc. are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Burlington Stores, Inc. and Visa Inc.?
Burlington Stores, Inc. was founded by Monroe Milstein. Visa Inc. was founded by Dee Hock.
Which company has a longer operating history — Burlington Stores, Inc. or Visa Inc.?
Visa Inc. has been operating for approximately 68 years, making it the more established of the two companies. Burlington Stores, Inc. has been in operation for around 54 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Burlington vs Visa overview