Arsenal chief executive Ivan Gazidis has claimed that Arsene Wenger's future as manager will be decided "in our own way and in our time".
The Frenchman, who recently celebrated 20 years in charge of the Gunners, will come to the end of his current contract next summer.
Wenger came under pressure to walk away from the club by a large number of his own supporters last season, but it remains uncertain whether the 66-year-old will be in the hotseat for the 2017-18 campaign.
While at a Vatican conference on faith and sport, Gazidis told The AP: "[Wenger's] been clear and we've always been clear, that's a mutual decision as to how long he'll continue. Both need to be on the same page on that.
"Arsenal is not Arsene Wenger. They're not one in the same thing. In a football sense, he has transformed the club."
Wenger, who recently admitted that he could manage England one day, has won three Premier League titles and six FA Cups during his time in charge of the North London outfit.