Mackay said: “I have known Paul since we played together at Nairn back in 2009 and I have always admired his passion and dedication to the club.
“He re-signed this season when the club was struggling to pick up points after being out of the game due to family commitments.
“Paul and I had an open conversation regarding the direction that the club is going and how opportunities would be limited for him, and we decided that the best outcome for both parties was for Paul to move on.
“He leaves with our best wishes, and I want to thank him for coming back to the club when we needed his support.”