Petersen is a successful businessman who led the Rollins Center for Entrepreneurship and Technology in the Marriott School at BYU as it became one of the top programs in the country. He is helping BMC become more professional and effective in all phases of financial management - including fundraising.

Petersen currently serves as president of the Provo Utah YSA 4^th Stake. He and his wife, Marilyn, reside in Utah County.