[5] Goodfellow's presidency coincided with National's term in Government under prime ministers John Key and Bill English, as well as the beginning of National's time in Opposition under leaders Simon Bridges, Todd Muller, Judith Collins and Christopher Luxon.
In early August 2021, Goodfellow survived a leadership challenge by former Speaker of the New Zealand House of Representatives turned National Party board member David Carter.
[6][7] In June 2022, Goodfellow announced he would not seek re-election to the presidency in August 2022 but intended to remain on the board.
[8][9][10] Peter Goodfellow is a director in fishing company Sanford Ltd.[11] He is currently a Board Trustee on the St. Andrew’s Village Trust (Inc).
[13] The wealth of the Goodfellow family was estimated at $500 million in 2013,[13] largely acquired through investment in the dairy farming industry.