AC/DC guitarist Malcolm Young suffering from dementia

Guitarist Malcolm Young, who has retired from his rock band AC/DC, has reportedly been diagnosed with dementia.

The Australian rock band recently said in a statement that its founder, Young, 61, retired due to prolonged illness but did not divulge details about the health, reported Aceshowbiz.

"If you were in the room with (Malcolm Young) and walked out, then came back in one minute later, he wouldn't remember who you are. He has a complete loss of short-term memory. His wife, Linda, has put him in full-time care," a source said.

Young has reportedly been moved into full-time care in a nursing home facility in Sydney.