Elgin-based Springfield Properties, which is building a number of new communities throughout Scotland, announced the resignation of Michelle Motion as chief financial officer and a director of the company with immediate effect.

“The board has commenced a search for a new CFO and will update the market in due course,” said Springfield.

“Iain Logan CA, Finance Director, who has been with the group for over three years, has assumed the role of Interim CFO.”

Springfield chairman Sandy Adam said: “On behalf of the board and everyone at Springfield, I would like to thank Michelle for her contribution over the past nine years.

“During that period, we have become a public company and undertaken multiple acquisitions that have transformed the scale of our business.

“We wish Michelle all the best for the future.”

Springfield Properties said last month its revenue increased 85.6% to £161.9 million in the six months ended November 30, 2022, with adjusted profit before tax and exceptional items up 3.1% to £6.6 million.