Utilize the input text as a context reference, choose the right relationship between 'Mel Watt' and 'Director' from the options.
Options: distributed by, position held, chief executive officer, member of

FHFA Director Mel Watt said in a statement Wednesday that his agency’s authorizations for new Fannie Mae and Freddie Mac pay plans are meant to “promote CEO retention, allow reliable succession planning, and ensure the continuity, efficiency and stability” of the companies.
position held