The U’s chairman and owner robustly defended Wilder’s role, despite a six-game losing streak in npower League Two.
It has seen the club tumble to 17th in the tableason.
It is the sort of run which would prompt chairmen across the Football League to make a change.
But Lenagan is determined to avoid making any hasty decisions and insists it has not crossed his mind so far.
“No, not yet,” he said.
“Chris is devastated by the run of six losses. “You can see that will obviously have strain on him but he’s a strong character and an experienced manager, thank God.
“He can get through this, provided we support him.”
Key to the chairman and owner’s stance is a significant injury problem which has affected the squad since the end of last season.
Given the context, Lenagan made it clear this was not the time to draw conclusions.
He said: “I am strongly of the opinion that one judges a manager when he has had his squad on the field – and not before.
“With the injured players returning at a reasonable rate and most of them scheduled back and fit by November, it will not be long before such a judgement can start to be made.
“To make that judgement now, in my experienced opinion, would be both wrong and unfair and I will not do that – even if some are insistent we do so.”