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Recently, the rock band Aerosmith announced their farewell tour, Peace Out, to mark 50 years since they released their self-titled debut album in January 1973. The band is ready to walk its way into the sunset after a successful career in the music industry. “It’s not goodbye it’s PEACE OUT!" the group said in its statement. "Get ready and walk this way, you’re going to get the best show of our lives." The farewell tour comes at a time when allegations of sexual assault and forced abortion are being levied against the band's frontman, Steven Tyler. Julia Misley filed a lawsuit in December 2022, alleging that the 75-year-old sexually assaulted her when she was 16 years old in 1973 and forced her to get an abortion just days before the expiration of the statute of limitations on reporting childhood sexual abuse crimes. 'Aerosmith' guitarist, Joe Perry speaks more on their decision to retire from touring AEROSMITH, 1970s. According to guitarist Joe Perry, the decision to retire from touring was influenced by the bandmates' ages. With all the members being in their early to mid-70s, it was a significant factor in their decision to give up this aspect of their career. RELATED: Aerosmith Guitarist Joe Perry Collapses And Is Rushed To The Hospital After Recent Performance Perry spoke out about this decision, acknowledging the toll that touring can take on musicians and recognizing the importance of prioritizing their health and well-being. "I think it’s about time," he said. Members of 'Aerosmith' says the tour is an opportunity to bond with their fans one more time Perry revealed that the tour is designed as a means to celebrate the success and lives of all the band members as they have all aged considerably over the years. "It’s kind of a chance to celebrate the 50 years we’ve been out here," the guitarist admitted. "You never know how much longer everybody’s going to be healthy to do this.… It’s been a while since we’ve actually done a real tour. We did that run in Vegas, which was great. It was fun, but (we're) kind of anxious to get back on the road." Aerosmith, Steven Tyler & Joe Perry, during a British concert, circa mid-late 1970s. Courtesy: Everett Collection Also, while making a statement to The Associated Press, the Aerosmith helmsman revealed that the upcoming event is an opportunity to perform in front of their fans one more time. "We’re opening up Pandora’s Box one last time to present our fans with the Peace Out tour," Tyler said. "Be there or beware as we bring all the toys out of the attic. Get ready. It’s the final farewell tour, but I have a feeling it will go on for a while. But I don’t know how many times we’ll be coming back to the same cities. It could very possibly be the last time." Aerosmith announces a shake-up in its lineup due to ill health The duo of Perry and Tyler also announced that the band will be undergoing a major shake-up. Joey Kramer, the drummer for the group, will be replaced by John Douglas so that he can pay attention to his family and health. Aerosmith, (L-R), Tom Hamilton, Joe Perry, Steven Tyler, Joey Kramer, Brad Whitford, circa late 1970s. (c)Columbia Records. Courtesy: Everett Collection This is not the first time that one of the members has pulled out of a show on the grounds of poor health. In 2022, Tyler had to reduce his performance schedule during the Las Vegas Residency due to his own health issues, and he had to cancel the final six shows of the event. Recently, the Aerosmith frontman also withdrew from a gala in February.