[1][2] Pennachetti is a senior fellow at the Munk School of Global Affairs and Public Policy's Institute on Municipal Finance and Governance (IMFG) at the University of Toronto.
[3] Pennachetti holds a master of business administration from the University of Windsor and is a certified general accountant.
[5][6][7] John Tory, the mayor of Toronto, nominated Peter Wallace to succeed Pennachetti as city manager.
[5] Initially announcing he would step down in November 2014, Pennachetti stayed in the role until May 8, 2015, at the request of Mayor Tory.
[9][6] Pennachetti has worked in the administrations of Toronto mayors Mel Lastman (as CFO), David Miller, Robert Ford and John Tory.