The long-serving finance chief at Highland housebuilder Springfield Properties has resigned with immediate effect.

Michelle Motion worked nine years for Springfield, first as finance director, and then as chief financial officer. Iain Logan, finance director at the firm, has replaced her temporarily while they search for a new chief financier officer.

According to the company, it will inform the market about the recruitment efforts in due course.

Ms. Motion spent her time in Springfield and the company completed several acquisitions. These include the £46.3m purchase of the housebuilding company of Glasgow's Mactaggart & Mickel last summer, as well as the acquisitions Tulloch Homes and Dawn Homes.

Sandy Adam, Chairman of Springfield said: "On behalf the board and all of Springfield, I would like to thank Michelle for all her contributions over the past nine years. We have been a public company since then and have made multiple acquisitions that have radically changed the size of our business. We wish Michelle all of the best for the future."

Springfield announced last month that it would halt activity in the affordable housing sector due to spiralling inflation.

According to the company, the cost inflation in fixed-price housing contracts had slowed growth. It reported that profits fell by 5% to £5.9million in six months. The company informed the stock exchange that it would not enter into any long-term fixed housing contracts until market conditions improve.