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The Irish Internet Association held its Annual General Meeting and appointed a new board of directors on Wednesday 13th September 2006. At the board meeting that followed Colm Lyon, the founder and managing director of Realex Payments was re-elected as Chairman - for a third term - unprecedented in the association's history. He noted in his Chairman's report the return of the association "to a positive profit position which will ensure its continued existence and fulfilment of a most important role in an industry that continues to grow at an exceptional rate". He thanked the other directors and CEO Fergal O Byrne for their time and contribution over the last year.