Aubameyang has carried much of Arsenal’s goal threat since making a £56m move to the Emirates stadium in January 2018.
The 30-year-old has scored 61 goals in 97 appearances for the Gunners and was earlier on in the season entrusted with the responsibility of becoming club captain.
Despite Aubameyang’s impressive stint in North London, the former Saint Etienne striker is yet to claim any silverware with Arsenal, having lost two cup finals; the 2018 Carabao Cup to Manchester City and the 2019 Europa League to Chelsea.
Aubameyang is yet to play in the Champions League during his time at Arsenal, who look set to miss out on Europe’s premier club competition again next season.
The 2015 African footballer of the year’s contract expires at the end of next season and he is already being linked with the likes of Barcelona and Inter Milan.
'I don't want to say that Arsenal aren't ambitious, but Arsenal don't have ambitions as high as some other clubs as far as Europe is concerned,' Mounguengui told ESPN.
'So if Pierre could secure a contract with a more ambitious club, he'd definitely find his place there.
'On an individual level, we all consider him to be among the best players in the world, but the advice I give to him is to continue to work and to attract the attention of the biggest clubs and the most ambitious clubs.'
'Aubameyang is a world-class player, but for him, or anyone else in Europe who hasn't won a major honour, football is a collective sport.
'Right now, he's at Arsenal, and he's won nothing here, so it's a collective failing.'