Gavin Darby turns up but leaves swagger at home The former Vodafone exec has never run a listed business before, so his first quarterly update was always going to be nerve-wracking. Add into the mix a basket-case of a company and talks of a takeover by Vodafone, and it quickly turned into a trial by fire. When he got the job, Darby was not ready to talk to the media. He was feeling nervous you see. Fast forward three months and journos would be very welcome to the results presentation, where Darby would spell out his strategy. When the big day came, however, they were kept at bay, with Darby warning off meaty questions about takeovers before he started. Vodafone might rue the Takeover Panel's involvement, but for Darby it was a blessing. True, he made a good fist of spelling out C&WW's problems. No one can be in any doubt that Darby thinks his predecessors did a pretty poor job. He also said sensible things about focusing on cash and upping investment. But for all the hand-wringing, there were too few specifics abut the road ahead. Just lots of reminders that he was only 60-days in. One analyst asked how long the turnaround could take. Darby demurred. Another wanted to know how many C&WW contracts have a break clause in the event of a change of control. Darby passed the buck. "That's far too hard," he said. And to top it all, there was just too little swagger. Darby's predecessors - John Pluthero and Jim Marsh - were alpha males, dangerously prone to talking the business up too far. But judging by Darby's debut, the company may have now swung too far the other way.