Starbucks (SBUX) - Get Starbucks Corporation Report is holding its investor day on Wednesday. Last week, long-time CEO Howard Schultz announced he is stepping down in April of 2017 and will be replaced by Chief Operating Officer Kevin Johnson. Schultz will focus his efforts on helping the company open upscale coffee shops. The investor day is held in New York and starts at 8 a.m. EDT. In addition to Schultz and Johnson, Chief Financial Officer Scott Maw will be part of the presentation. Investors will be looking for commentary on the transition of power, along with the company's growth prospects for China. Earlier this year, Schultz said the company would open 500 stores a year in China over the next five years. Starbucks shares are down over 4% since the start of 2016. TheStreet's Scott Gamm reports from Wall Street.