He became Gent-coach one week after being released by Cercle Brugge in October 2012 but was fired in January 2013. As a striker, Peeters was notable for his height (1.96 m). Born in Belgium, he started his professional career for Lierse S.K. in the 1992-1993 season. After five years he moved to Dutch club Roda JC, who sold him in 2000 to Vitesse Arnhem. After three years Peeters was transferred to Millwall F.C.. In 2005 he moved back to Belgium, playing for K.R.C. Genk (2005–2006) and Lierse S.K. (2006–2008).
Peeters was appointed as manager of English side, Charlton Athletic, in May 2014 on a 12-month contract. In January 2015 after only 25 games in charge he was dismissed. At the time Charlton had won once in the previous 12 games and had slipped to 14th in the Championship table.