Since the onset of protests that followed the death of George Floyd on May 25, 2020, more than 35 of America’s largest corporations have put out statements condemning institutionalized racism. These statements, either implicitly or explicitly, acknowledge that a portion of the responsibility for addressing this racism lies with corporate America.[1] In the weeks and years ahead, corporate boards will be discussing these statements with their CEOs and much hard work will be required to define the appropriate scope of that responsibility and create accountability around it.