Former captain Gray witnessed Hibs' disappointing 2-1 loss at home to St Mirren on Saturday, adding to their already dismal record of just one win in their last 12 league matches this season.
Hibs have conceded nine goals in the final 15 minutes of matches this term, and, as a result, have dropped 11 points - more than any other team.
It means Hibs are bottom of the Scottish Premiership, but Gray, who was appointed this summer, is set to get the chance to turn things around after the international break.
"We are disappointed with the poor start to our current season like all Hibernian FC supporters," a statement from the Hibs board of directors on Monday night read.
Trending"Following the weekend's result, we have held discussions as a group addressing how we move forward. We continue to work tirelessly in our quest to improve our performance and achieve the results we need on the pitch.
"Through this challenging time, we support our head coach David Gray and his management team. All departments are under pressure to deliver.
"We recognise that this is a hard time for our supporters and we know we can do better. Together, with Black Knight Football, we are working hard to make that happen."
Hibernian travel to Dundee on November 23.