Arteta had been the favourite to replace ex-Gunners coach, Arsene Wenger after holding successful talks with the North London club last week.
However, Arsenal’s chiefs felt that Arteta’s lack of experience was a risk for the Emirates club and voted unanimously in favour of Emery on Monday.
Wright, however, believes the Gunners have acted in an ’embarrassing’ manner.
“Why have they strung Arteta along? Why not be honest and say: ‘this is what we are going to go for now, “Wright told 5Live.
“Is it because of the public sway? It just seems really desperate.
“Arsenal getting in touch with Vieira for the manager’s job was tokenism. It’s embarrassing.”