AC/DC band members, from left to right, Malcolm Young, Cliff Williams, Angus Young and Brian Johnson attend the exclusive world premiere of their album Live at River Plate in London on May 6, 2011
Jorge Herrera—WireImage/Getty Images
September 25, 2014 5:33 AM EDT

AC/DC has some good news, and some bad news.

A statement on the iconic rock band’s website announced that their new album, Rock or Bust, will be launching on Dec. 2. The album features 11 new tracks, recorded in Vancouver this spring, and is their first in six years.

The bad news is that founding guitarist Malcolm Young, who took a hiatus from the band earlier this year because of illness, is set to retire permanently. “Unfortunately, due to the nature of Malcolm’s condition, he will not be returning to the band,” the AC/DC statement said.

Young will be replaced by his nephew Stevie Young, who plays rhythm guitar on Rock or Bust and will accompany the band on a 2015 world tour to promote the recording.

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