The Gunners revealed on Tuesday morning that Aubameyang had been stripped of the captaincy after his 'latest' disciplinary breach, with the striker not involved against Southampton and set to remain unavailable in midweek.
Lacazette led the Arsenal team out for the 3-0 win over the Saints at the weekend and is a member of the "leadership group" at the Emirates, but Arteta has refused to name a new permanent captain.
Speaking to reporters ahead of Wednesday's game with West Ham, Arteta said: "I don't have much more to say. I think it's a really clear statement from the club. It's a decision we've made following the last incident we had with the player and this is where we stand.
"We did it both with the club and face to face with the player. He had to accept the decision. It is a really unpleasant situation. We have the leadership group. In the last game we had Laca. We had Granit who was captain as well. It's not the time to make any rash decisions."