Gregson is the chairman of Precise Media Group, and of CRI, a leading UK health and social care charity.
He is also a director of the London Legacy Development Corporation, which is transforming the Olympic Park following the 2012 Games, and a member of the Advisory Board for the Sutton Trust, promoting social mobility through education.
Previously, Gregson was a co-founder and chairman of Phoenix Equity Partners, a UK mid-market private equity business, and remains a senior advisor to the firm.
Gregson said: “This is a really exciting challenge for me at a fantastic time for British tennis, when we’re seeing more people playing, and more success at the highest level.
"I look forward to working closely with the LTA President, CEO and Board to ensure that we make the most of this opportunity, and continue to grow the sport.”
LTA president Peter Bretherton said of the appointment: “David brings a wealth of experience as a leader in the fields of business, the voluntary sector, sport and government.
"His appointment as independent chairman of the LTA Board is another significant step in the modernisation of governance of British tennis, for which the LTA Council must take great credit.”
Gregson, a lifelong tennis fan, and will start in his role in January 2013.