Arsenal executives reportedly met for dinner early last week to discuss candidates for the vacant managerial role at the Emirates Stadium.
Unai Emery was sacked last month after overseeing a poor start to the Premier League season, with former player Freddie Ljungberg installed as interim manager.
According to the Daily Mail, Josh Kroenke, Raul Sanllehi, Edu, Huss Fahmy and Vinai Venkatesham met to discuss Arsenal's strategy for the rest of the season and the list of candidates they had drawn up to replace Emery.
The report states that Arsenal are still considering a number of different candidates for the role, with Mikel Arteta, Carlo Ancelotti and Massimiliano Allegri all in the frame.
Arsenal have endured their worst run in 42 years during recent weeks, with faith in interim Ljungberg reportedly diminishing among the executives.
The Gunners travel to West Ham United on Monday for their next Premier League fixture, knowing a win would take them to within two points of fifth-placed Manchester United.