Exactly. This is spot on and it would be even more obvious if I listed the current Arsenal board members and their occupations (hint they are all either English banker money men or American corporate execs). It becomes glaring when you compare the different board members to 15 years ago when Arsenal still had long time family shareholders on the board (Fiszman, Bracewell-Smiths, Hill-Woods and David Dein).
This board, tragically for fans, doesn't care about winning the league and I doubt Kroenke even understands the Champions League and cup competitions. As long as he finishes top 4 to collect the nice CL check thats the only imperative on Wenger. I agree the second Arsene cannot finish 4th the pressure will be on but there is no pressure on Arsene from the Board to deliver anything but Top 4 finishes for financial reasons.
For his part, Arsene himself was not able to understand back 10 years why shareholders were not simply happy with him increasing the price of their shares. One shareholder famously commented at a shareholder meeting "The price of my freaking Arsenal share does not excite me, watching Thierry Henry win trophies excites me". Wenger was legitimately surprised the shareholders actually cared about results on the pitch and not just the profits being made