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Peter McDermott has extensive work experience in leadership positions. Peter retired in 2021 after serving as the President & CEO of MDI - Minnesota Diversified Industries. Prior to that, they were the President & CEO of Minnesota Diversified Industries from 2008. Before their role at MDI, they served as the President of Itasca Economic Development Corporation from 2002 to 2008. Peter also held executive positions at Cirrus Design Corporation, UPM Blandin Paper Company, Fletcher Challenge Limited, and Blandin Paper Company. Peter McDermott began their career as a Manager at Taylor, McCaskill & Co. Ltd. CPA's.

Peter McDermott completed their Bachelor of Science degree in Accounting, Finance, and Management from Babson College in 1976.