Venkatesham, who will have been with the Gunners for 14 years by the time he departs next summer, has given Arsenal plenty of time to find his successor.
They plan to utilise that and will consider both external and internal candidates for the role.
“Change and succession is something the club is well prepared for,” said Arsenal co-chair Josh Kroenke.
“The Board remains committed to our strategy and will address leadership change as we continue to drive the club forward.”
Venkatesham was appointed as CEO by Arsenal in 2020 and navigated them through the Covid-19 pandemic.
He has been a driving force for Arsenal’s commercial deals and the growth of the club’s women’s team.
Venkatesham also played a vital role in rebuilding the relationship with supporters in the wake of the failed European Super League launch in 2021.
His expertise lie on the business side of Arsenal’s operations, although executive vice-chairman Tim Lewis has a growing influence in that area.
Manager Mikel Arteta, director of football operations Richard Garlick and sporting director Edu oversee football matters.