The 67-year-old put pen to paper on a new two-year contract on Wednesday to extend his rein to 2019 despite a disappointing campaign for the French coach.
Wenger led Arsenal to a disappointing fifth-place finish in the Premier League as Liverpool beat their rivals to the final Champions League qualification spot.
The Gunners were unable to end their long wait to win the Champions League after a humiliating 10-2 loss to Bundesliga giants Bayern Munich in the last 16.
Arsenal face a tough challenge breaking back into the top four given the spending power of their rivals Chelsea, Manchester City and Manchester United this summer.
Speaking to Sky Sports about what signings Arsenal need to make in the summer transfer window, former Southampton midfielder Le Tissier said:
“He’s got to do his business in the summer, and I think they need a world-class centre-forward, somebody to strengthen the centre of their defence and then a holding midfielder as well.
“Obviously they missed Cazorla and it’s bad news that he’s out until October.
“I’m not a big fan or Francis Coquelin or Granit Xhaka, although you’d expect him to improve this summer.”
Arsenal haven’t won the Premier League title in 2003-04.
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