Capital Southwest Corporation announced that the Chairman of the Board, Joseph B. Armes has informed the company's Board of Directors of his decision not to stand for re-election at the Annual Meeting of Shareholders in August 2017, in order to devote additional time and attention to his duties at CSW Industrials Inc. Mr. Armes has been Chairman of the Board since January 2014 and served as the company's President and Chief Executive Officer from July 2013 through September 2015, when the Company completed the spinoff of CSWI. Upon completion of the spinoff, Mr. Armes became Chairman and Chief Executive Officer of CSWI and Bowen Diehl, then Chief Investment Officer of CSWC, was appointed President and Chief Executive Officer of CSWC. The Board plans to appoint current Director David R. Brooks, Founder, Chairman and Chief Executive Officer of Independent Bank Group Inc., non-executive Chairman of the Board of Capital Southwest at the 2017 Annual Meeting of Shareholders, which is expected to occur August 2, 2017. Mr. Brooks has served on the Board since 2014 and is currently Chairman of the Audit Committee. The Board also plans to appoint current Director Jack D. Furst, founder of Oak Stream Investors and former partner at Hicks, Muse, Tate & first Inc.,
Chairman of the Audit Committee to succeed Mr. Brooks in that capacity.