But Dein, who left the Gunners' board following a disagreement over plans to bring American investor Stan Kroenke's millions to the club, said he believed the Frenchman contemplated quitting the Gunners.
"When I left in April I think his future was very much in the balance, in fact he said to me at the time he wasn't sure he wanted to stay on," Dein told Sky Sports News.
"I think it was important he stayed on for the future of the club with all the players he is bringing through, his eye for talent.
"It was a very, very major decision for him to stay on. Certainly I wanted him to stay on. My love for the club is undiminished, irrespective of events that have happened and I know Arsene is right for the club."