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The rhythm guitar player and founding member of heavy metal legends AC/DC, Malcolm Young, who announced he will no longer be playing with the band last week is suffering from dementia, People reports.

"Malcolm is suffering from dementia and the family thanks you for respecting their privacy," his family said in a statement to People.

AC/DC released in a statement in April that Young would be taking a break from the band due to ill health. Last week, the band announced Young's nephew would take over for his uncle.

"Unfortunately, due to the nature of Malcolm's condition, he will not be returning to the band," the band said last week in a statement on its website. "AC/DC will undertake a world tour in support of 'Rock or Bust' in 2015. Stevie Young, nephew of founding members Angus and Malcolm Young, plays rhythm guitar on 'Rock or Bust' and will accompany the band on tour."

Turner Sports will give a sneak peek of one track, "Play Ball," during its 2014 Major League Baseball Postseason coverage, starting September 27.

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    AC/DC is stingy with new releases. "Rock or Bust" is only the band's third album since 1990. The band was started by brothers Malcolm and Angus Young in 1973.