UPDATE 1-Polycom CEO to step down; co names successor

* EVP Andy Miller named president and chief executive

* CEO Hagerty to serve as advisor to Miller, board

May 10 (Reuters) - Video conferencing company Polycom Inc (PLCM.O) said Robert Hagerty will step down as chief executive officer and resign from the board on Monday.

Polycom named Executive Vice President Andrew Miller -- a former CEO of Norwegian rival Tandberg -- as chief executive officer.

Hagerty, who also served as chairman, will be an adviser to Miller and the board. David DeWalt, Polycom's lead independent director, will assume the role of chairman.

The board plans to appoint Miller to the board following this year's annual stockholders meeting.

Miller, who joined Polycom in 2009, was CEO of Tandberg from 2002 to 2006, and has worked with Cisco Systems Inc (CSCO.O). Tandberg is a unit of Cisco. (Reporting by S. John Tilak in Bangalore; Editing by Anne Pallivathuckal)