As a professor, I believe virtually all profs should have industry experience and occasionally go back for a year or two. (I’ve bounced back and forth!)
For quite some professors I imagine that going back to industry would make them a lot more arrogant. In academia, being surrounded by very smart people dampens the arrogance a lot because you realize that you may be smart, but not that smart. On the other hand, in industry you have much less people around you that can intellectually stand up against you, which easily makes you smug.
They would also quickly suffer from corporate politics is they are not used to it (and they will be exposed because professor).
OTOH I think they can become more arrogant when they are back to the uni, now that they have seen both worlds