According to multiple news reports, AC/DC founding member Malcolm Young will not return to the band after being diagnosed with dementia.

The Sydney Morning Herald reports that Young's wife has placed him in a facility specializing in dementia care, and that he has a complete loss of short-term memory.

Young, 61, was the band's rhythm guitarist and the band's main songwriter.

The band will continue to make music, releasing a new album in December and embarking on a world tour in 2015, according to the BBC.

Rumors have swirled for months regarding the condition of Young and whether the band was going to break up or retire.

AC/DC have sold more than 200 million albums. The band was inducted into the Rock and Roll Hall of Fame in 2003.

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Atlanta art and antiques appraiser and auctioneer Allan Baitcher (right) takes bids during a 2020 auction. Baitcher and his company, Peachtree Antiques, are being sued by a Florida multimillionaire who says he paid them $20 million for fakes. (AJC 2020)

Credit: Phil Skinner / Staff