The committee met urgently a short while ago to decide on the names.
They include veteran journalist and former editor Mathatha Tsedu, former ANC MP Febe Potgieter-Gqubule and human rights lawyer Krish Naidoo, a former SABC board member who resigned in October.
Journalist and author John Mattison and former CEO of Business Unity SA Khanyisile Kwayema make up the five.