Maria Shriver

Maria Shriver, who works as a reporter for NBC and is still waiting for her divorce from the Arnold to be finalized, says the 76-year-old actor, with whom she is close friends, has no plans to step away from his Hollywood career anytime soon amid speculation he has memory issues and can no longer remember his lines.

The 57-year-old brunette told E! News that the 'Easy Rider' star is not suffering from any memory-related illness or dementia and has no current plans to retire.

Another source close to Jack said he is actively reading scripts at the moment and is looking forward to his next role.

It was previously reported that the actor, whose career has spanned five decades and who has appeared in many iconic films including 'The Shining', 'Batman' and 'Chinatown,' had quietly decided to retire.'

A Hollywood insider said: "Jack has - without fanfare - retired.

"There is a simple reason behind his decision, it's memory loss. Quite frankly, at 76, Jack has memory issues and can no longer remember the lines being asked of him. His memory isn't what it used to be."

Jack's illustrious career has included three Oscar wins, two for Best Actor in 'One Flew Over the Cuckoo's Nest' and 'As Good as It Gets' and a Best Supporting Actor statuette for his turn in the 1983 film 'Terms of Endearment'.