Pall (NYSE:PLL) Shares Soar on CEO Retirement News

Reports that Pall Corp. (NYSE:PLL) chief executive officer Eric Krasnoff will retire by March 2012 resulted in the shares of the company surging on the news.

The reasoning, as Credit Suisse (NYSE:CS) aptly noted, was it probably sets the company up for a takeover or merger, which will generate significant profits for shareholders.

Credit Suisse boosted their rating on Pall from "Neutral" to "Outperform."

The filtration and purification company said once the board completes their search for Krasnoff's successor, he'll step down at that time, which suggests if could be earlier if they find one before March 2012.

Pall closed Monday at $55.41, gaining $6.57, or 13.87 percent.