Former Arsenal star,
Petit played under Wenger in Monaco and Arsenal where they won the Premier League and FA Cup double together 1998.
Under Wenger, Arsenal have not won the league since 2004 and are currently on the verge of finishing the season trophy-less, putting the manager in intense pressure.
Fans and pundits have urged the manager to step and Petit has re-echoed their sentiments.
The ex-France international feels that the time has come for Wenger to become a director of football and leave the coaching to one of his former players.
“I am pretty sure he has to stay at the club but maybe it's time for him to open the door for something else as well. When I look at the former players from Arsenal, how many of them have their badges to manage a team?” Petit said told Daily Mail on Tuesday, March 15 in Dublin.
“, , , many, many great players, they have their own statue in front of the stadium. I think Arsene... it's good to share the place with someone else and try to open the door to the former players.”
The 41-year-old has also ruled Arsenal out of the title race, saying his old club lack the mental strength to challenge.
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“I think Arsenal has been missing something for ages, it's mental,” he added.
“They've got great players and the way they used to play, for me is one of the best in Europe. But playing well on the pitch doesn't mean you're going to win the title.
“You can play badly as well but you win the game. One thing that's wrong with Arsenal is that you can see a lot of the players give up on the pitch. Mentally, I think they need to improve a lot but in terms of quality they have everything to win the title.
“I think Arsene has done a great job in the 20 years he has been there and I respect this very highly, but when you look at the title they won it was because they had great leaders in the team.
“They have great players but they are missing leaders and personality. If you want to win things, then you need to suffer.”
Arsenal crashed out of the Champions League on Wednesday, March 16 after losing 3-1 (5-1) to Barcelona.