Moyes was sacked on Tuesday, just two days after a damaging 2-0 loss to Everton at Goodison Park which left the club with no chance of qualifying for this season's Champions League.
|11/10||Arsenal are 11/10 with Paddy Power to beat Newcastle to nil|
"I'm sad that he wasn't give him time," he told reporters on Friday. "I wish him well and it is part of the modern game. It is a big threat for our game."
Wenger also confirmed that Jack Wilshere is "progressing well" as he recovers from injury, but revealed that Abou Diaby – who made his playing return in an Under-21 game earlier this week after recovering from ligament damage – has suffered a further setback and will be unavailable for Monday's clash with Newcastle.
"He had a little groin problem after the (under-21) game so will not be available on Monday," he added.
Meanwhile, Thomas Vermaelen could return to the squad, though Kieran Gibbs remains sidelined.