Gazidis told Arsenal's AGM that the club knew that they would not achieve instant success when they moved to the Emirates Stadium, but McLintock has questioned why Gazidis did not reveal his beliefs when the new stadium was built.
McLintock told talkSPORT: "I think they're drifting. We keep on selling our best players and bring in other players that are not quite up to the same standard and you have to be extremely lucky to continue to do that season after season.
"You might get away with it once or twice but you won't get away with it four or five times.
"There is a lack of transparency. It would be nice if Arsene Wenger or the board came out and said this is the situation we're in, these are our plans, it might take another year or two but this is where we're going to go. But we don't know. It's always promises, promises and then in the end it's disappointing."