In a unanimous vote on March 28, the Town Council named Mr. Pegueros to succeed longtime Town Manager Angie Howard.
His compensation will include a base salary of $162,000, a car allowance of $3,000 per year, health insurance, three weeks annual vacation for the first five years and four weeks thereafter, and $5,000 annually for professional growth.
"I am very enthusiastic about my future here and I look forward to working with all of you," Mr. Pegueros told the council.
Mr. Pegueros, who is 35, said he grew up in Daly City and South San Francisco and graduated from Drew School, a private college-preparatory high school in San Francisco.
He has a master's degree in executive public administration from the University of Washington and a bachelor's degree in political science from Columbia University, he said.
His 12-year career in public service began as a management analyst in San Bruno, where he then advanced to assistant finance director.
The council had met six times in closed session to interview candidates seeking this office, Mayor Maryann Derwin said.
"In true Portola Valley fashion, we took an extended amount of time to deliberate on a new town manager," Ms. Derwin said. "The decision was agonizing because the candidates were so good."
Fifty-eight people "from all over the place" applied for the job and the council interviewed five, all from California, Ms. Howard told the Almanac.