Founding guitarist Malcolm Young retires from AC/DC

Legendary AC/DC guitarist Malcolm Young has retired from the band, after being struck down by an illness.

As the band prepares to release its next album 'Rock or Bust', the group's management announced Young would not be rejoining the group.

Young, a founding member of the internationally successful band, was struck down by the illness in April.

He took a break from the band at that point, but the undisclosed illness has prevented a return.

"Unfortunately, due to the nature of Malcolm's illness, he will not be re-joining the band," a statement from Alberts and Sony Music Australia read.

"AC/DC will undertake a world tour in support of ‘Rock or Bust’ in 2015.  

"Steve Young, nephew of founding members Angus and Malcolm Young, plays guitar on 'Rock or Bust' and will accompany the band on tour."

'Rock or Bust' is the band's first studio album in six years.

The band was formed in 1973 by the Young brothers, and are one of the highest-grossing bands of all time.