Chris Squire dead: Yes founding member and bass guitarist dies aged 67

Squire's bandmate Geoffrey Downes confirmed the news of Squire’s death on Twitter

Chris Squire of the British band Yes performs at Radio City Music Hall on July 9, 2014 in New York City (Dave Kotinsky/Getty Images)

Chris Squire, the highly respected bass player best known for his work with Yes, has died aged 67.

Squire had been undergoing treatment for cancer in his hometown of Phoenix after being diagnosed with a form of acute myeloid leukaemia.

Following the news of his illness Yes announced their summer tour would go on as planned, with Billy Sherwood stepping in as a replacement for Squire.

The first Yes line-up: from the left, Banks, Tony Kaye, Jon Anderson, Bill Bruford and Chris Squire (Rex Features)

Squire's bandmate Geoffrey Downes confirmed the news of Squire’s death on Twitter, writing: "Utterly devastated beyond words to have to report the sad news of the passing of my dear friend, bandmate and inspiration Chris Squire."

Squire was born in London in 1948, was a founding member of Yes, and is the only musician to have played on every one of the band’s albums. The band’s upcoming tour with Toto would mark the first time the band had ever performed live without him.

The band also released a statement on their Facebook page, which reads: "It’s with the heaviest of hearts and unbearable sadness that we must inform you of the passing of our dear friend and Yes co-founder, Chris Squire. Chris peacefully passed away last night in Phoenix Arizona, in the arms of his loving wife Scotty.

"For the entirety of Yes' existence, Chris was the band’s linchpin and, in so many ways, the glue that held it together over all these years. Because of his phenomenal bass-playing prowess, Chris influenced countless bassists around the world, including many of today’s well-known artists.

"Chris was also a fantastic songwriter, having written and co-written much of Yes’ most endearing music, as well as his solo album, Fish Out of Water.

"Outside of Yes, Chris was a loving husband to Scotty and father to Carmen, Chandrika, Camille, Cameron, and Xilan. With his gentle, easy-going nature, Chris was a great friend of many … including each of us. But he wasn’t merely our friend: he was also part of our family and we shall forever love and miss him."