Following the 1987 election, Major was promoted to the Cabinet as Chief Secretary to the Treasury. Two years later, in a surprise July 1989 reshuffle, Major succeeded Geoffrey Howe as Foreign Secretary. The rapid promotion surprised many, due to Major's relative lack of experience in the Cabinet. Just three months later, in October 1989, Major was appointed Chancellor of the Exchequer after the sudden resignation of Nigel Lawson. This meant that, despite only being in the Cabinet for little over two years, Major had gone from the most junior position in the Cabinet to holding two of the Great Offices of State.  As Chancellor, Major presented only one Budget, the first to be televised live, in early 1990. He publicised it as a budget for savings and announced the Tax-Exempt Special Savings Account (TESSA), arguing that measures were required to address the marked fall in the household savings ratio that had been apparent during the previous financial year. In June 1990, Major suggested that the proposed Single European Currency should be a "hard ecu", competing against existing national currencies; this idea was not in the end adopted. In October 1990, Major and Douglas Hurd, Major's successor as Foreign Secretary, persuaded Thatcher to support British entry to the European Exchange Rate Mechanism, a move which she had resisted for many years, and which had played a part in the resignation of Nigel Lawson.  After Michael Heseltine challenged Thatcher for the leadership of the Conservative Party in November 1990, Major and Douglas Hurd were the proposer and seconder on her nomination papers for the leadership ballot. After Thatcher was unable to win enough support to prevent a second ballot, she announced her resignation as Prime Minister and Conservative Leader. Major subsequently announced on 22 November that he would stand in the second ballot. Major had been at home in Huntingdon recovering from a wisdom tooth operation during the first leadership ballot. Thatcher's nomination papers for the second ballot were sent to him by car for him to sign - it later emerged that he had signed both Thatcher's papers and a set of papers for his own candidacy in case she withdrew.  Unlike in the first ballot, a candidate only required a simple majority of Conservative MPs to win, in this case 187 of 375 MPs. The ballot was held on the afternoon of 27 November; although Major fell two votes short of the required winning total, he polled far enough ahead of both Douglas Hurd and Michael Heseltine to secure immediate concessions from them. With no remaining challengers, Major was formally named Leader of the Conservative Party that evening and was duly appointed Prime Minister the following day.

Answer this question "Did he run as a republican?" by extracting the answer from the text above.