The Gunners have endured their worst start to a top-flight season for more than 50 years, with Saturday’s 4-3 defeat to Blackburn leaving them 17th in the Premier League.
But Gazidis unequivocally ruled out a knee-jerk reaction and promised fans majority shareholder Stan Kroenke would finally address them on his next visit to north London.
“Arsene is not a broken man. He did not suddenly become a bad manager or somebody who became out of touch with the game. It is complete nonsense,” he said.
“[Sacking him] is a route we are not going to go down. Stan Kroenke is very supportive of Arsenal’s self-sustaining model and of Arsene Wenger.
“To see him [Wenger] portrayed as some kind of idiot is profoundly damaging, not to Arsenal or Arsene, but for the game.
“If we get into short-termism we will do more damage to the club. He’s frustrated but very, very focused on putting things right and is as positively engaged as ever to drive the club forward. The club is not in crisis. There’s no division in the club. We work together.”
Gazidis also mounted a defence of Kroenke, who is nicknamed Silent Stan in his native United States for his reclusiveness and has been criticised for not expanding on his vision for Arsenal.
“The truth is that Stan is not silent. He has been very involved throughout and for a number of years with the club,” he added.
“Stan has said that he will talk to the fans the next time he is in the UK and he will.”