Chris Squire, the bassist and a founding member of the groundbreaking British progressive rock group Yes, passed away Saturday night after a short battle with cancer, according to a post on the band's official Facebook page.

Squire and vocalist Jon Anderson formed the band in 1968, and he was on the only constant member throughout the group's myriad lineup changes.

On May 19, the band announced that Squire had been "diagnosed with Acute Erythroid Leukemia (AEL), an uncommon form of Acute Myeloid Leukemia (AML)" and would undergo treatment in his adopted hometown of Phoenix. In the statement, Yes said that the band would honor its scheduled tour dates, with long-time collaborator Billy Sherwood filling in for Squire.

Here is the complete text of the announcement the band made Sunday about Squire's death at 67 years old:

"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."

Before the band confirmed Squire's passing, current Yes keyboardist Geoff Downes broke the news on Twitter, tweeting that he was "utterly devestated beyond words."

Squire was known for his innovative bass guitar work as well as his harmony vocals, which were a key component to Yes' signature sound.

"Born at the right time, on March 4, 1948, Squire's quickly developing musical genius was matched stride for stride by technology," wrote Ultimate Classic Rock. "He'd use a distinctive Rickenbacker 4001 electric to help redefine the role of the bass, even as he became Yes' undisputed leader."

Yes' hits include "Roundabout," "I've Seen All Good People" and "Owner Of A Lonely Heart." Its 1970s albums "The Yes Album," "Fragile" and "Close To The Edge" are considered hallmarks of the progressive rock movement.

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