Sydney, Sep 26 (IANS/EFE): Malcolm Young - guitarist, songwriter and co-founder of the legendary Australian band, AC/DC - is suffering from dementia and was admitted to a nursing home in Sydney, media reported Friday.

He had announced his retirement from the band earlier this week.

"If you were in the room with (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 close to the musician's family told the Sydney Morning Herald.

In April, it was learned that the 61-year-old Young was suffering from a serious illness, which was not revealed, and could not participate in the recording of the album "Rock or Bust" which is set for release in November.

His nephew, Steve, who replaced him during the recordings, will join other members of the group, Angus Young, Brian Johnson and Phil Rudd, during the AC/DC world tour in 2015.