Simple algebras and exact module categories

We verify a conjecture of Etingof and Ostrik, stating that an algebra object in a finite tensor category is exact if and only if it is a finite direct product of simple algebras. Towards that end, we introduce an analogue of the Jacobson radical of an algebra object, similar to the Jacobson radical of a finite-dimensional algebra. We give applications of our main results in the context of incompressible finite symmetric tensor categories.