Blow for Nat Rothschild as Volex falls The company said it would cut costs to help turn the company around, and strengthen its senior sales team. It hired former Diageo executive Daniel Abrams as chief finance director, and Karen Slatford, former general manager of worldwide sales and marketing at US computer giant Hewlett-Packard, as deputy chairman. However, analysts were unconvinced. Investec moved its rating from a buy to a hold and slashed its target price from 140p to 125p. "The company has struggled to generate revenue growth in the recent past given a combination of weak end markets, product delays and disruption within the sales organisation," Investec analyst Thomas Rands said. Shares in Volex fell 45.75 to 94.5p by 1pm in London, wiping nearly £18m off the value of the company and £6m off Mr Rothschild's fortune. The fall will come as a blow to Mr Rothschild, who is already embroiled in a protracted battle over the future of troubled mining firm Bumi. The billionaire is battling to oust the Indonesia's influential Bakrie family from the listed company, which they brought to London together before falling out. Mr Rothschild was unavailable for comment by the time of publication.