A statement posted on AC/DC’s website Wednesday confirmed the reason behind the AC/DC retirement rumors that started on earlier this week. Although AC/DC is not retiring, as originally feared by fans, Malcolm Young will unfortunately be taking a break from the band due to poor health.

“After forty years of life dedicated to AC/DC, guitarist and founding member Malcolm Young is taking a break from the band due to ill health,” the statement reads. “Malcolm would like to thank the group’s diehard legions of fans worldwide for their never-ending love and support.”

In light of the news, AC/DC asked for privacy for Malcolm and his family during this time.

“The band will continue to make music,” the statement confirms.

In February, Brian Johnson told WKGR (Gater 98.7 West Palm Beach) that AC/DC might go into the studio in May and that the band would be celebrating their 40th anniversary with 40 gigs this year (listen here).

I mean, honestly, our fans are just the best in the world, and we appreciate every one of them. So, like I said, we’ll have to go out, even though we’re getting a bit long in the tooth. It’s been four years [since we last went out on the road], and I’m really looking forward to it,” the singer said.

A report from The Australian claims that AC/DC has, in fact, book six weeks of studio time in Vancouver, the same place 2008’s Black Ice was recorded.

WATCH: Billy Joel and Brian Johnson Perform “You Shook Me All Night Long” at MSG