The remarks were made at the end of Frank Lowy's last annual general meeting as Westfield's executive chairman, after 51 years at the helm. Mr Lowy will lead the meeting as the non-executive chairman after he relinquished the day-to-day running of the shopping centre giant to his sons Peter and Steven yesterday. He reaffirmed the group's full-year earnings forecast of $1.7 billion, which equates to 74.6¢ per security. The annual distribution is forecast at 48.4¢ per security.