The Arsenal manager revealed on Friday that he would part ways with the club after a 22 year tenure, and could be set with a move to Europe.
Parlous, who played under Wenger for eight years, is not convinced that heading up the France national team would be Wenger's priority, but believes his former boss would benefit from a change.
Speaking to 'The Debate', he said: ''I think his stock is still very high. Loads of people might say he needs a change, himself as well. He's been at Arsenal for a long time and no one envisaged him being there that long. When he first turned up, if you said to me he would be there for 22 years, I would've said you were mad.''
He added: ''I know he's had some bad times over the years, especially recently, but it was the Champions League and the Premier League where he has lost his way a little bit.''
As for managing a national team, Parlour argued: ''I can't see him being a national manager because he loves that day-to-day routine and coming in to train with the lads, sometimes joining in with the players. He loved being around the players every single day and seeing them improve under him. You wouldn't have that in a national side... and I think he would rather be a club manager."
His fellow panelist, former Wales international Craig Bellamy was in agreement with him: ''He [Wenger] has so much to offer the game and I actually believe it could be a good change for him and exactly what he needs.''