AC/DC co-founder Malcolm Young has died at the age of 64, the band have confirmed.

“It is with deepest sorrow that we inform you of the death of Malcolm Young, beloved husband, father, grandfather and brother,” AC/DC said in a statement on their website. “Malcolm had been suffering from dementia for several years and passed away peacefully with his family by his bedside.”
“Renowned for his musical prowess, Malcolm was a songwriter, guitarist, performer, producer and visionary who inspired many. From the outset, he knew what he wanted to achieve and, along with his younger brother, took to the world stage giving their all at every show. Nothing less would do for their fans. Malcolm is survived by his loving wife O'Linda, children Cara and Ross, son-in-law Josh, three grandchildren, sister and brother.”

Lead guitarist Angus Young said of his brother in a separate statement: “As his brother it is hard to express in words what he has meant to me during my life. The bond we had was unique and very special. He leaves behind an enormous legacy that will live on forever. Malcolm, job well done.” The Young family thanked fans for their “overwhelming support and heartfelt condolences” and asked for privacy during “this time of heartbreak and grief.”

Malcolm was born in Glasgow, Scotland in 1953 and moved with his family to Australia 10 years later. Following the lead of his older brother George, who played with the Easybeats of "Friday on My Mind" fame, he formed AC/DC with Angus in 1973. After recording one single, "Can I Sit Next To You, Girl" backed with "Rockin' in the Parlour," they replaced lead singer Dave Evans with Bon Scott.

Their debut, High Voltage, arrived in early 1975, with T.N.T. following later that year. The success of both records in Australia attracted the attention of Atlantic Records, who compiled the best cuts from the first two records as High Voltage. Dirty Deeds Done Dirt Cheap followed in 1976 and reached No. 3 and the U.S.

Powered by Malcolm's seemingly endless supply of riffs, Scott's nudge-and-wink lyrics and Angus' lead work, AC/DC continued along with Let There Be Rock and Powerage, but it was 1979's Highway to Hell that cemented their status as one of the world's major hard rock bands.

The rhythm guitarist retired in 2014 after his family confirmed he was suffering from dementia, and was replaced by his nephew Stevie for recording and touring their Rock or Bust album. The Youngs’ older brother George, known as a producer and member of ‘60s band the Easybeats, died last month, aged 70.
Speaking in 2014, Angus revealed that Malcolm’s condition had deteriorated to the point that he could no longer remember many of the songs he’d written. “It was hard work for him," he said. "He was relearning a lot of those songs that he knew backwards; the ones we were playing that night he’d be relearning. He was his own driver. He himself had that thing, where you’ve just got to keep going. Every now and then he’s still the Malcolm I know.”