January 28, 20––

Bonnie M. Nelson
Senior Consultant
The Retail Search Group
5200 University Avenue
Palo Alto, California 94301

Dear Ms. Nelson:

I have learned The Retail Search Group is active in providing quality search work for many senior management positions. With my background in financial management, I believe we should know each other.

As a CFO at Starbucks, I have managed the financial aspects of a program that grew explosively. This included financial, administrative and operational enhancements to a $300 million capital expenditure annual program. In addition, I have been responsible for financial aspects of 600 real estate site selections per year. Dramatically improved returns on investment and cost efficiencies resulted. I will repeat this performance for your client.

Some of the specific accomplishments I have spearheaded are:

• Reduced the average cost of one division's stores by 22% within eighteen months, by identifying and economizing all critical cost elements. (This project alone allowed $6.0 million in capital to be redeployed.)
• In only one year, improved the productivity rate (stores completed per person) by 24%--a substantial operating savings.
• Reduced overdue accounts receivable by 25% in only six months (over $1.5 million), while rapidly increasing total collections.
• Identified purchasing as a fruitful cost reduction areas--the professional purchasing manager I recruited achieved first year price reductions of over $9.0 million.

My family and I have paid our dues in the "Snow Belt" and now want to relocate to a warmer climate. Therefore, I (with MBA and CPA) will make a change quickly for the right opportunity--and make your client money.

I'll be in all next week and look forward to hearing from you. I also have several subordinates that I would like to introduce.

Sincerely,

 Keith B. Crandell

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