Take context from the input text and decide on the accurate relationship between 'George Osborne' and 'Chancellor of the Exchequer' from the options provided.
Options: position held, subsidiary, location of formation, chief executive officer

Chancellor of the Exchequer George Osborne announced the appointment on Tuesday, saying Vlieghe is an economist of “outstanding ability.” BOE Governor Mark Carney endorsed that view, saying his “insight, judgment and perspective will be invaluable to the committee in the coming years.”
position held