For cannizarro reaction is it necessary that carbonyl compounds don't have alpha hydrogen?

Till date, I have encountered carbonyl compounds without alpha hydrogens that can undergo Cannizzaro reaction. But recently I came across the following molecule and I can't understand the reason behind why it shows Cannizzaro reaction.
[![enter image description here](https://i.stack.imgur.com/9AgDV.jpg)](https://i.stack.imgur.com/9AgDV.jpg)


