[5][6] His successor, Ángel Cabrera, assumed the office September 1, 2019, after serving for seven years as president of George Mason University in Fairfax, Virginia.

[13] Peterson shares his first name and middle initial with Georgia Tech's famous fictional student, George P. Burdell.

[20][21] While at NASA, Peterson developed a (still used) technique to determine the priming capability of high-capacity heat pipes in low gravity.

During Peterson's first year as president, Georgia Tech launched the InVenture Prize, an annual invention competition for undergraduate students to showcase innovative solutions to a panel of judges.

The competition, which awards $20,000 and free U.S. patent filing to the student winner, airs live on Georgia Public Broadcasting.

The AAU had studied Georgia Tech's accolades for several years including the amount of federal grants and the number of faculty awards and research citations.

[25][26] After criticism led by former Georgia state lawmaker Earl Ehrhart, Tech withdrew a 47 million dollar request to fund a renovation project of Institute's library complex.

During Peterson's time as president, more than 58% of Georgia Tech's undergraduate students participated in an international experience like studying, researching, or working abroad.

[29] On September 23, 2017, Peterson announced a fund he created for donors to contribute money for student mental health and wellness initiatives.

[33] In late 2018 and early 2019, a number of ethics lapses and conflict of interest allegations by several top Georgia Tech administrators were revealed, leading to several resignations.

[38][39] During Peterson's time as President of Georgia Tech, the Institute added more than 30 corporate innovation and incubation centers on campus, which allow students and faculty to work directly with industry partners to develop solutions to issues affecting everything from supply chain, and customer service to manufacturing.

[43] Peterson also serves on the board for the Partnership for Inclusive Innovation(PIN), a program aimed to position Georgia to become the technology capital of the East Coast.

[29] Since his retirement as president, Peterson has stepped back into the classroom and laboratory at Georgia Tech, teaching mechanical engineering courses and continuing his research in the fields of heat transfer and combustion.