MEXICO CITY, May 22 -- Fernando Ortiz has stepped down as manager of Club America after 14 months in the role, the Mexican side said on Monday.

The announcement came just hours after America's defeat to Guadalajara in the semifinals of the Liga MX Clausura tournament.

"Club America informs that Fernando Ortiz will not continue as manager of the men's team and that his cycle has concluded," read a club statement.

Ortiz had been in charge of the Mexican giants since March last year, when he replaced fellow Argentine Santiago Solari.

America said it would not rush to appoint a successor to the 45-year-old.

"We will analyze what happened in the tournament and the situation with the team in-depth," Club America president Santiago Banos said on social media.