Last week, IMF chief Dominique Strauss-Kahn resigned his position after being accused of attempted rape and other sexual assault charges. The IMF, and its search for a new leader, is in the spotlight, though the public largely does not understand how the organization works, and how the next chief will be chosen.

In the clip below, CNN’s Richard Quest breaks down who will take over the IMF since Strauss-Kahn’s ouster.

Embedded courtesy of CNN.