The separation of Hewlett-Packard into two billion-plus companies over the coming year will be a test case in how corporate spinoffs can be orchestrated, according to Wharton management professor Emilie R. Feldman . When Meg Whitman, chair and CEO of the Palo Alto, Calif.-based company made the split announcement earlier this month, it marked a departure from years of growth through acquisitions.

The company that William Hewlett and Dave Packard founded in a one-car Palo Alto garage 75 years ago will be split into Hewlett-Packard Enterprise, focused on technology infrastructure, software and services for business customers, and HP Inc., the firm’s personal computers and printer business. HP expects to complete the split by the end of 2015.…