UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K
                                 CURRENT REPORT

     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934



         Date of Report (Date of earliest event reported) July 18, 2007


                          Capital Southwest Corporation
--------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)


          Texas                      811-1056                     75-1072796
--------------------------------------------------------------------------------
(State or other jurisdiction       (Commission                  (IRS Employer
     of incorporation)             File Number)              Identification No.)


12900 Preston Road, Suite 700, Dallas, Texas                      75230
--------------------------------------------------------------------------------
(Address of principal executive offices)                        (Zip Code)


Registrant's telephone number, including area code          972-233-8242
                                                        ------------------------




Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

[ ]  Written  communications  pursuant to Rule 425 under the  Securities Act (17
     CFR 230.425)

[ ]  Soliciting  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

[ ]  Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act (17 CFR 240.13e-4(c))







ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL  OFFICERS;  ELECTION OF DIRECTORS;
     APPOINTMENT OF PRINCIPAL OFFICERS

          Effective   August  6,  2007,   Susan  K.   Hodgson   will  resign  as
          secretary-treasurer  (chief  financial  officer) of Capital  Southwest
          Corporation.  She will be moving to  Austin,  Texas with her family in
          late August.  She worked for The  Whitmore  Manufacturing  Company,  a
          wholly-owned  portfolio  company  of Capital  Southwest,  from 1991 to
          1994,  at  which  time  she  transitioned  to  Capital   Southwest  as
          controller.

          Jeffrey G.  Peterson,  vice  president of Capital  Southwest,  will be
          designated as the secretary of the corporation.  A search is currently
          being conducted for a controller who will serve as the chief financial
          officer.






                                   SIGNATURES


     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


Dated: July 18, 2007
                                                     By:   /s/  Gary L. Martin
                                                           ---------------------
                                                           Name: Gary L. Martin
                                                           Title:   President