Arsenal are reportedly prepared to take their time in selecting a replacement for outgoing chief executive Vinai Venkatesham.

The CEO announced on Thursday that he would leave his position next summer due to a desire to seek a fresh challenge.

Venkatesham, who has been employed by Arsenal since 2010, worked in a number of positions with the club before being appointed as chief executive in 2020.

Alongside sporting director Edu and manager Mikel Arteta, Venkatesham has been part of a leadership group which has helped change Arsenal's fortunes for the better.

The Gunners are set to return to the Champions League after finishing in second place last season — their best league finish since the 2015-16 campaign.

In his position, Venkatesham has also played a key role in Arsenal's commercial agreements and helped drive the growth of the club's women's team.

With Venkatesham continuing in his role until 2024, the Evening Standard are reporting that Arsenal are in no rush to appoint his successor.

The report claims that the Gunners are planning to consider both external and internal candidates for the position.

According to The Sun, business expert Felicity Barnard has emerged as one of the early contenders to become Arsenal's new CEO.

Barnard previously worked at Arsenal as a partnership development director, while she also held a position with West Ham United as a commercial director.

The potential candidate is currently the deputy CEO at Ascot Racecourse alongside her role working for Great British Racing.

While the Arsenal hierarchy will continue to shortlist viable contenders for the role, Arteta is firmly focused on matters on the pitch.

After overseeing a 1-0 Premier League victory over Everton on Sunday, the Arsenal boss will turn his attention to Wednesday's Champions League clash with PSV Eindhoven.