(1)
Literal translation:
professor and practitioner
-- Example
http://www.archive.org/stream/profpractitioner00harrrich#pag...

(2)
Also popular on the web:
professional and professor
(usually preceded by the field name, for example,
"business professional and professor",
"Project Management Professional and Professor").
-- http://tinyurl.com/3ayhf8m

(3)
In the USA (may have a honorary connotation):

ref. #1
"Professor of Practice (also Associate Professor of Practice, and Assistant Professor of Practice;
non-tenure positions for professionals without traditional academic credentials, such as a Ph.D., and career paths;
used by some universities to provide higher status and salaries to individuals who previously worked in professional settings)"
-- http://en.wikipedia.org/wiki/List_of_academic_ranks#United_S...

+

ref. #2
"
A PROPOSAL FOR CREATING THE TITLE OF
“PROFESSOR OF THE PRACTICE” AT GEORGIA TECH

APPENDIX A
“PROFESSOR OF THE PRACTICE” IN NATIONAL PERSPECTIVE
Over the past decade the title “professor of the practice” or “professor of practice” has been adopted at a number of leading American research universities. [....] The title has been most commonly adopted in professional schools or colleges in fields such as architecture and design, business, engineering, international relations, and public policy. It is less commonly found in schools of arts and sciences."
-- http://www.facultysenate.gatech.edu/EB2006- 011006-M-Attach4...