Management question

Discuss the following hypothetical: You are an employer of a mid-size business. You receive notice from the sheriff’s department that one of your most trusted and responsible employees hit and killed a pedestrian who was lawfully in a crosswalk. According to the sheriff’s reports your employee ran a red light going at a speed of 50 mph in a 35 mph zone. The employee was driving your company vehicle and was on official company business. Can any liability be imposed against you as the employer? How do you know?