I'd slightly disagree with some of the comments regarding Carolyn McCall. It was under her tenure that easyJet opened and then closed many European bases in the face of the usual Ryanair attack which is to flood the market with incredibly cheap pricing until such time as the competition with drew. Examples include Madrid and Rome. I'd describe her approach as hugely safe/ conservative and a move to be overly reliant on LGW and also business travel.
They are now in the value carrier space more than low cost and they need to decide what their USP is to make the airline resilient to Ryanair and Wizz. To date it has been to compete with the legacy carriers at primary airports. Unlikely they will restructure to become a ULCC. I think we'll see them rebuilding a network around a core number of hubs and look to build frequency on primary city pairs and business centres as business travel resumes. We may also see some level of differentiation in terms of service or potentially cooperation with other carriers, the usual low cost carrier 'rules' may not necessarily apply.
I wouldn't rule out a potential sale to one of the large groups at the right juncture. IAG would seem like the logical fit. My own opinions.