It’s two things.
It’s not that Wenger wasn’t moved into an executive position, but that he and Dein were the only visionaries at the club. The old board was happy with being a decent sized club in North London (This is why I don’t understand why Arsenal fans venerate Fiszman and them. They had no vision and were totally fine with being a mid-tier club.) It was Dein and Wenger who saw the club’s potential and pushed for that.
When Dein was let go, like you said, Wenger trusted no one there with good reason. At that point it was all about maintenance and not ambition.
The old board, being conservatives, liked Kroenke because he is stable. Tbf to Kroenke, he has been that and has allowed the club to spend a lot. The problem is there has been no vision. Which is why Wumery was brought in and Sanllehi is doing whatever he can to just stabilize. The club is in the throes of an actual collapse that’s been in place since the 2008. Until they can bring in people with big ideas and vision, that’s this club until we are relegated and Kroenke sells the team. Raul has to go because he isn’t a visionary.