MR John Callaghan has been elected president of the Institute of Directors. Mr Callaghan, who was elected at yesterday's annual meeting of the institute, is chairman of Cara Group and a director of Esat Digifone and First National Building Society. He is a former managing partner of KPMG and former chief executive of Fyffes. Dr Paddy Galvin, chairman of Waterford Crystal, was elected vice president.