The scientist, who shares this year's Nobel Prize in physiology and medicine for describing how one cell divides into two, had given his founder's stock to the Fred Hutchinson Cancer Research Center, where he has been director since 1997.

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The board also appointed Sunil Mittal, the company's founder, as executive chairman, Bharti said in a notice sent to India's stock exchanges.

WSJ: Bharti Airtel Profit Plunges 72%

An entrepreneur or "grantor" gives an asset (usually founder's or pre-public offering stock) to a trust for his kids and takes back an annuity for himself.

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